Huddersfield Town announce American businessman Kevin M Nagle as their prospective new owner

Huddersfield have announced their prospective new owner is American businessman Kevin M Nagle.

The Championship club confirmed last week they had agreed a takeover deal with an unnamed US consortium.

Nagle is currently the owner of the California-based Sacramento Republic FC, who play in the USL Championship.

A statement from the Terriers on Tuesday read: ‘We can today confirm that American businessman, investor, and Sacramento Republic Football Club CEO and owner Kevin M Nagle is the prospective new owner of Huddersfield Town, subject to legislative and governance procedures.’

When concluded, the takeover will end former chairman Dean Hoyle’s 14-year association with Town.

Huddersfield confirm American businessman Kevin M Nagle as their prospective new owner

Huddersfield confirmed last week they had agreed a takeover deal with a US consortium

Dean Hoyle is understood to be writing off £40million to ensure the takeover goes through

Sportsmail exclusively revealed last week that under the terms of the deal with US investors Hoyle will write off around £40million he is owed by the Championship club which the new owners were unwilling to take on, preventing administration and an automatic 12-point deduction that would leave them 15 points from safety at the bottom of the table.

Hoyle has also agreed to continue funding Huddersfield until the end of the season at a cost of around £6m while the takeover is finalised, on the proviso that he is repaid that sum by the new owners once it has been completed. 

The local businessman has invested over £60m in Huddersfield during two spells in charge, but has agreed to walk away with a huge loss in order to secure the future of his home-town club.

Hoyle acquired 100 per cent of the club’s shares earlier this month with a view to selling. He had stepped back in as a short-term measure to save the club from administration after Phil Hodgkinson ran into financial difficulties.

Hoyle previously bought the club in 2009 before selling a 75 per cent stake to Hodgkinson 11 years later.

Neil Warnock is attempting to keep Huddersfield, who are three points from safety, up

Huddersfield staff were told of the planned takeover last week following a frantic week of negotiations with three potential buyers. 

Nagle said: ‘I am beyond pleased to announce I have entered into agreement with Dean Hoyle to purchase a full stake in Huddersfield Town.

‘As the approval process is now under way, there will be no further comment until finalisation, as we wish to 100 per cent respect that process.

‘I would however like to thank Dean for all his help and support along the way, and I cannot wait to meet and speak to the wonderful Town fans.’