HUDDERSFIELD TOWN CHAIRMAN DEAN HOYLE CONFIRMS CARD FACTORY SALE
Fri 9th Apr 2010 | Money & Finance
As widely reported in the media in the last few days, the sale of Huddersfield Town Chairman Dean Hoyle’s greeting card business Card Factory to Venture Capitalist Charterhouse was finally completed yesterday afternoon.
The terms of the deal are not disclosed but financial commentators put the final selling price at in excess of £350m.
Dean declined to give details of the deal but commented:
“The sale is an important milestone for the Company in its development and it will provide a platform for future growth and success. I will maintain a role in the business as Non-Executive Chairman”
Regarding the implications for Huddersfield Town he was forthright:
“No doubt expectation levels will go through the roof as people speculate as to the financial implications for Huddersfield Town. Any thoughts of a new stadium, big transfers or wages spending sprees should be quickly dispelled. Everyone needs to keep their feet very firmly on the ground. This deal does not significantly change the way our business will be operated at all. Whether the sale had happened or not the level my backing for the Club is unaffected. We are building to make Huddersfield Town a sustainable, viable business – not one even more reliant on me than it already is – it would be a step backwards and too high a risk for everyone concerned.
“The strategy, business principles and way we do business at Huddersfield Town in the “New Era” started in November 2008. This was then firmly established when the Huddersfield Town board changed and I became Chairman in May 2009. This again has continued since I became outright owner in early 2010. Under my Chairmanship and ownership will continue to follow our already well established plans.
“We are well placed for the crucial games ahead and I am certainly looking forward to the run in with anticipation and real belief that we can have a very successful end to the season.”
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