Premier League side Sport Republic, backed by Serbian billionaire Dragan Solak, has completed its acquisition of Southampton by picking up an 80% stake in the club, Premier League side said on Tuesday.
Solak, the owner of United Group, a telecommunications company, acquired the club in a deal reportedly worth £100 million ($136 million) from Chinese businessman Gao Jisheng, who bought his 80% stake in August 2017.
“Over the past two years, together with our club shareholders, we have searched for the right partner to take the club forward. Today we have found the right solution for our club,” said Southampton CEO Martin Semens.
“Sport Republic are seasoned investors, but also experienced in the world of elite professional sports. That combination is hard to find, and we are thrilled to have reached an agreement that secures our short- and long-term future.”
Katharina Liebherr, who inherited the Saints from her late father Marcus in 2010 when they were in third-tier League One, will retain the other 20%.
The deal is the latest acquisition by the Premier League club after Czech billionaire investor Daniel Kretinski acquired a 27% stake in West Ham United in November.
Southampton are 14th in the league with 21 points from 19 matches. They travel to second-tier Swansea City in the third round of the FA Cup on Saturday.
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