Financially troubled Woking FC look set for new American owners as takeover deal now has ‘clear path’
Woking Football Club will be hoping that a brighter future is on the horizon as a deal to sell the financially beleaguered club to new American owners now has a ‘clear path’.
American conglomerate Cardinal Football Group LLC looks set to acquire majority ownership of the National League side after Woking FC’s shareholders voted in favour of the sale at a general meeting.
A Woking FC statement read: “The club is delighted to say that following our shareholders’ votes at the EGM last week, the path is now clear for the transfer of shares to Cardinal Football Group LLC to complete the deal.
“We anticipate the final paperwork will be finished this week, allowing us to officially announce Cardinal Football Group as the new majority shareholder. Thank you for your continued support, we greatly appreciate it.”
Cardinal Football Group LLC, which is controlled by US businessman, Todd Johnson, who is also a member of the ownership group of Major League Soccer team Minnesota United. Mr Johnson is also the former vice chairman of Dagenham & Redbridge FC.
Minnesota United FC are an esteemed Western Conference Major League Soccer team. The American soccer team has some players which English football fans may recognise, such as Finnish former Premier League striker, Teemu Pukki.
Recent successes came in 2019, where the team reached the finals of the US Open Cup, the oldest ongoing soccer competition in the USA.
The soon-to-be former Woking FC majority owner, Drew Volpe, said when the deal was first announced in November:
“This transition represents an exciting next step in the history of Woking Football Club. Whilst I will no longer be a majority shareholder, I will retain a stake in the club and my support and passion for this great club will remain unchanged.”
Earlier this year, Woking FC were close to going into administration, which would have meant they would not have been able to compete in the 2024/25 National League season. Luckily, then club owner Drew Volpe received a loan from his parents which allowed him to register Woking FC to compete this season.
The Surrey-based football club were founded in 1887, and currently play their home games in the Kingfield Stadium, with a capacity of 6,036.
The team are currently 18th of 24 in the National League this season, just two points off the relegation zone. The Vanarama National League is the fifth highest football league in the United Kingdom and is the lowest division in the UK which operates at a national level.
