Longer-Term Football Club Ownership
As was reported at the time, about 12 months ago we engaged with Rothschild & Co to prepare a review of the football landscape and PNE’s position within it. In particular, we wanted to be able to consider the various options in terms of future potential ownership models, medium and long-term investment requirements, and other financial considerations (such as the potential impact of a new funding model driven by the IFR).
As a consequence of this review, we have concluded that for PNE to continue to be successful in the Championship and have the best opportunity to strive for Premier League status, we – the owners – need to reach out and engage with international sports organisations, private institutions or investment funds better geared, both commercially and financially, for maximising the true global potential of PNE. We will therefore be actively engaging with such potential organisations or individuals who would be interested in investing in or owning a club like PNE.
The club is enjoying its highest ever levels of revenue, its highest season card sales and highest average gates since the 1960s. The club is consistently cited as being one of the best run football clubs in the Championship. We have one of the lowest squad salary levels in the division and yet almost every season we punch above our weight in terms of league position. We hope that, with the IFR now in place, we are on the cusp of a new and fairer redistribution of money across the whole of the football pyramid. We have tremendous and capable staff across all aspects of PNE. What we, the owners, don’t have are the right global sports insights, experience and investment firepower to take on the parachute funded clubs at the top end of the Championship (whilst ever this outdated financial disparity between the Premier League, and the Championship remains).
Working closely with Rothschild & Co, we will be proactive in looking to find potential new investors or custodians of the club.
Timeline/Next Stage
There is no immediate requirement for us to find partners or sell the club. We have long-term financial stability within our successful group of businesses. However, we feel it would be prudent to set ourselves a target of two years to try and find the right fit for PNE. There will be no changes in the way we fund the club nor the amount we are prepared to commit to the club during this process. A successful PNE remains our priority.
We will continue to push for the club to become far more self-sustaining and financially viable, and we will offer the IFR all the support and encouragement we can to expedite a new agreement that’s in the best interest of the whole of the football pyramid. At the end of this two-year period, we will review our options again.
Succession Planning
In the four years since the passing of my father, Trevor Hemmings, I have had an increasing responsibility to our numerous and fast-growing family businesses. Going forward, I am duty bound to spend more of my time involved in the enhancement and continued success of these businesses, the growth and success of which remain fundamental to the financial stability of PNE. It has become increasingly difficult to balance this with the time the role of Chairman of PNE requires and deserves.
Therefore, after several months searching for the right candidate, the right fit for PNE, I am pleased to be able to announce the appointment of Ian Penrose as new Non-Executive Chairman of Preston North End, to steer the club through this important phase of its development.
Ian is a very successful businessman in his own right. He has been the CEO of two major UK public companies with global activities involved in sport, technology, media and gaming. He currently sits on the Board of a couple of international businesses. I believe that Ian’s extensive experience of working with sports in the UK and North America, particularly sports media rights and digital gaming, will be a huge asset to PNE, but most importantly, Ian (like me) is a life-long PNE fan.
Following a short period of handover, Ian will take over the role of Chairman on 13th October 2025. I have asked Ian to oversee the club, to manage our significant annual investment, to focus on the club’s long-term sustainability and to assist us in achieving our objectives of success on and off the pitch.
I would also like Ian to continue our engagement and communication with you, the fans, as we strive to achieve promotion to the Premier League and further develop the club and its facilities, including its commercial activities.
Following his formal appointment on 13th October, Ian will outline his initial thoughts and priorities for his role within the club. I am sure you’ll join me in welcoming Ian on board and wish him every success.
Is there something happening
www.investors.playtech.com
www.vanlanschotkempen.com
Experience in horsehacing industries and previous involvement with the national football museum.
dataworksgroup.com.au
Craig has worked hard as Chairman of PNE and I do wonder if this 'stepping away' from the chair marks the beginning of the Hemmings family stepping away from the club.
