The mystery bidder for Southampton FC has been named as Mayfair hedge fund Sisu Capital by London’s Evening Standard, promising to make the second tier side the first British football club to fall under the control of a hedge fund.
Without naming the bidder, Southampton has stated that the bidder is making “a long-term commitment” and will be a “strong and supportive shareholder.” It has also said it would be “injecting a substantial sum”. Sisu aims to take a stake of at least 55 per cent by supporting a placing of 30m Saints shares at 40p apiece – raising £12m for a loss-making club that is £24m in debt.
We have no idea what happened to Paul Allen, the Microsoft co-founder who was supposed to save the Saints in the spring. Maybe the club will have better luck this time.
The Standard says the Sisu director who masterminded the deal is “the Swiss-educated Nigerian Onye Igwe, a sometime accountant and commodities trader.”
But that’s wrong. He’s actually called Onyechinaeduanaghaefuuzo Igwe.
It’s a name we look forward to hearing ringing out around The Dell.