St Johnstone takeover confirmed as deal with Adam Webb completed

American lawyer Adam Webb has completed his St Johnstone takeover.

Long-serving former chairman Geoff Brown confirmed the deal with Atlanta-based Webb, who has a 10 per cent stake in Cambridge United, had been completed.

Brown said in a statement on the club’s website: “I am delighted to confirm the completion of the sale of my controlling interest in St Johnstone Football Club to Adam Webb.

“Since I announced the plans to sell my shareholding back in December 2022 we have had a number of interested suitors and a lot of discussions and negotiations have taken place during the last year-and-a-half as we looked to secure the best way forward for the club.

“First and foremost, it was, and is, incredibly important to me that the club is handed over to the right person. Someone who will act as a suitable custodian whilst taking the club forward, continuing the good work that I feel has been done up until now. I strongly believe that we have found that person in Adam.

“In all of my interactions with Adam, I find him to be a man of high integrity and I consider that he has the best interests of the club at heart. I am confident that everyone connected to the club will discover this for themselves over the coming weeks, months and years.”

Brown spent 25 years as chairman before being succeeded by his son, Steve, in 2011.

“As I look back on my 38 years as majority shareholder of the club, I do so with a lot of pride,” he said.

“As most will know I took on a football club back in 1986 that was in a precarious financial position, operating in a run-down stadium at Muirton Park whilst languishing towards the depths of Scottish football.

“It hasn’t been easy, but it has been a labour of love and I am immensely proud that I am now handing over a football club that is in a stable financial position, particularly against a backdrop that has been challenging at times, as has been witnessed by the number of other clubs that have ended up in financial trouble – and occasionally in administration – during my time within Scottish football.

“I know that some of the decisions taken over the decades may not have been popular at the time but the one thing I can guarantee is that all decisions taken have always been done with a view to it being in the best interests of the club and in an effort to ensure that the club remained viable, and there for all to support and enjoy.”

Brown has pledged the proceeds of his sale for the benefit of the community.

“I also look forward to getting to work on the creation of the Community Hub from the net proceeds of this sale and I firmly believe that this will be of great benefit to both the football club and the local community, for generations to come,” he said.