The offering for new shares in Eagle Investments 2017 Limited (the Club’s majority shareholder) was over-subscribed.
We are delighted to announce that two of the new investors will join the Club’s board of directors and also the board of Eagle.
Coley Parry – Founder and CEO of the Common Group, a venture capital platform that invests in early and mid-stage companies across multiple sectors in the US and UK.
Nick Semaca – An experienced business leader and strategist, Nick has nearly 20 years of experience at the international consulting firm, McKinsey & Company. Since his retirement, Nick has become an active investor in a number of start-ups and also in a minor league baseball team in the US.
Other new significant investors James Fenton, Joe Cugine, Kevin Willer, Jason Baine and Jeff Devron will bring varied business expertise and experience to the Club. In addition, Rich Emmett and Nigel Travis have increased their investment in Eagle.
“These are very exciting developments for Leyton Orient.”
In order to facilitate these transactions, Kent Teague has cancelled just over £2m of his shares in Eagle. To transfer the full benefit of his generosity to Leyton Orient, an equivalent amount has been written off the loan balance due from the Football Club to Eagle. Kent remains a substantial shareholder and Vice-Chairman and stays fully involved in the future development of the Club.
It is nearly four years since the acquisition of the Club by Eagle and given recent events in the game it is worth reiterating the Leyton Orient’s Board’s commitment to community, transparency and a recognition of the Club’s 140-year history in East London.
Chairman Nigel Travis commented: “As a personal investor in the new round of funding, these are very exciting developments for Leyton Orient, and I want to thank my great partner Kent for his generosity and good counsel.
“We are very pleased to welcome our new Board members and other investors and expect Leyton Orient to be even more competitive in the years to come including a promotion in the near future. We know all the new investors are excited about Leyton Orient’s future.”
“We expect Leyton Orient to be even more competitive in the years to come.”
As a means of introducing them to supporters, the club will be hosting a live Q&A, conducted online via our YouTube channel.
This will take place at 6pm, on Friday May 28th.
Chairman Nigel Travis will invite the new board members and investors to the event, where he will introduce the new faces to supporters.
As ever, we are inviting questions from our supporters to the new investors, as well as existing board members.
To do so, please email [email protected].
The event will take place live on our YouTube channel, which you can subscribe to here ahead of time.