Skip to main content

Tranmere takeover awaits EFL approval

Donald Trump’s former lawyer Joe Tacopina is leading a consortium that wants to buy English League Two side Tranmere Rovers and replicate Wrexham’s climb up the leagues.

The 58-year-old New Yorker has been in talks with Tranmere’s owners for at least six months and his proposed takeover is now only waiting for regulatory approval from the English Football League .

Tacopina has become famous in the United States for defending a string of celebrity clients, including the late Michael Jackson, former New York Yankees star Alex Rodriguez and rapper A$AP Rocky, as well as being a regular commentator on legal matters on American television.

But as well as his combative legal work in American courtrooms, Tacopina is well known in Italy for owning football teams. In 2011, he was part of the U.S. group that bought Roma, before selling up and moving on to Bologna in 2014. He sold them a year later and bought Venezia, where he took the side from the fourth to the second tier and was knighted by the city for rescuing the club. But having moved on in 2020, Tacopina bought his fourth Italian team, SPAL, in 2021.

The Ferrara-based side, who were in Serie A in 2020, were relegated to Italy’s third tier last season and had to start the current campaign on minus three points for missing a tax payment for January and February this year. Tacopina, as club president, was also given a three-month suspension by the Italian football authorities. The club appealed against the sanction, saying the late payments were a banking error, but it was confirmed in July.

This punishment is almost certainly one of the reasons why his group’s Tranmere takeover has not yet been approved by the EFL. When asked for an update on the approval process by The Athletic, Tacopina and the EFL declined to comment but indicated that talks were ongoing. A Tranmere spokesperson said: “We don’t comment on rumours.”

The club have developed a reputation for being one of the best-run clubs in the lower divisions in terms of financial sustainability and community engagement, but they have not been able to restore the club to its 1990s heydays, when they spent a decade in the Championship, including three straight visits to the play-offs.  Since then, however, they have yo-yoed between the divisions, even dipping into the fifth-tier National League in 2015. 

 

Comments

Popular posts from this blog

Threat of financial calamity removed from Baggies

West Bromwich Albion had effectively been in decline ever since the club was sold to a Chinese consortium in August 2016, paying a figure north of £200m to buy former owner Jeremy Peace’s stake. Controlling shareholder Guochuan Lai’s ownership was fairly disastrous for the club, but his unloved tenure finally came to an end after Bilkul Football WBA, a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran Patel, acquired an 87.8% shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club. This change in ownership was urgently required, due to the numerous financial problems facing West Brom, including growing high-interest debt and serious cash flow concerns, following years of no investment from the former owner. Indeed, West Brom’s auditors had already rung the alarm bell in the 2021/22 accounts when they cast doubt on the club’s ability to continue as a going concern without making player s...

Gold standard ground boosts Tottenham's income

The gold standard in European football grounds is the Tottenham Hotspur stadium in north London, a £1bn construction project completed in 2019. Its impact on the club’s finances has become increasingly clear as the effects of the pandemic have faded. Previously, the average fan would spend less than £2 inside the ground on a typical match day, but now that figure is about £16, thanks to new facilities including the longest bar in Europe and an on-site microbrewery. Capacity has gone up from 36,000 at the club’s previous home of White Hart Lane to 62,000.  The new stadium — built on land adjacent to White Hart Lane — has opened the door to a broad range of other events that have helped to push commercial income up from €117mn in 2018 to €215mn in 2022. Last year, Tottenham hosted US singer Beyoncé for five nights on her global Renaissance tour, two NFL matches, as well as rugby games and heavyweight boxing bouts.  Money brought in from football has gone up too. Match day ...

Spurs to sell minority stake

Tottenham Hotspur is in talks to sell a minority stake in a deal that could value it at up to £3.75 billion and pave the way for Joe Lewis and his family to sever ties with the Premier League football club. Tottenham chairman Daniel Levy is seeking an investment that values the club at between £3.5 billion and £3.75 billion, including debt. While the terms of any deal have not been finalised, City sources expect Spurs to sell about 10 per cent. The club is being advised by bankers from Rothschild on the sale. Tottenham wants to raise fresh capital for new player signings and to help fund the development of an academy for its women’s team, as well as a 30-storey hotel next to its north London stadium. The financier Amanda Staveley, who brokered the deal for Saudi Arabia’s Public Investment Fund to take over Newcastle United, is understood to be among the parties to have expressed an interest in Tottenham. Staveley’s fund, PCP Capital Partners, has raised about £500 million to ...