Sunderland's rivals announce new ownership structure - including ex-USMNT star striker

Sunderland’s rivals in League One have announced fresh investment – and a new ownership structure.

Thursday, 17th June 2021, 4:52 pm
LINCOLN, ENGLAND - MARCH 02: A general view as Lincoln players warm up prior to the Sky Bet League One match between Lincoln City and Fleetwood Town at Sincil Bank Stadium on March 02, 2021 in Lincoln, England. Sporting stadiums around the UK remain under strict restrictions due to the Coronavirus Pandemic as Government social distancing laws prohibit fans inside venues resulting in games being played behind closed doors. (Photo by Alex Pantling/Getty Images)

The United States-based Jabara family are to join the existing group of shareholders.

Lincoln City Holdings currently own owns 75% of the club.

The Jabara family owns Major League Baseball team San Diego Padres.

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The investment will be headed up by Harvey Jabara, an investment executive.

As part of this development, Lincoln City have also announced that former USA international Landon Donovan will join the Imps as a strategic advisor.

A club statement read: “HJ-LCFC Holdings LLC will initially take a 9% stake in Lincoln City Holdings. At this current stage, Harvey will not be joining the board of directors but retains a right to do so at a later date.”

Lincoln City chairman Clive Nates added: “We are delighted to welcome Harvey, Landon and the Jabara family to Lincoln City Football Club.

"We are continually on the lookout for like-minded people to join our current group of investors to assist with the ongoing development of the Club financially, and also importantly, contribute their knowledge and acumen”.

“We have been talking to Harvey and Landon for some time now, but right from the initial meetings, it was clear to see we were aligned in our vision and values for the Club.

"Landon has for some time been assisting his close family friend Harvey in finding the right club to partner with. It is great for all that we can also benefit from Landon and his vast experience.

“I am sure all Imps fans will join me in welcoming Harvey, Missy, Jaxon, Jensen, and Landon to Lincoln City Football Club.”