Woking FC look set to get new owner as US company signs major agreement

Woking Football Club's fortunes could be about to change as new owners look set to come in. The club's majority owner, Drew Volpe, revealed that US-based company Cardinal Football Group LLC had all but agreed a deal to acquire a majority share in the football club.

Cardinal Football Group, which is controlled by US businessman, Todd Johnson, has signed a purchase agreement to acquire a majority shareholding in Woking FC. Johnson is the former vice chairman of Dagenham & Redbridge FC, and also is a member of the ownership group of Major League Soccer team Minnesota United.

In a statement on Friday November 8, Volpe said: "We are not quite done yet. There are still some steps that remain to conclude the transaction, including a general meeting of shareholders.

READ MORE:I'm a former Premier League footballer – my diet is the reason I'm still going at 38

READ MORE:Woking Council bankruptcy investigation finds 'potentially unlawful' lending, report claims

"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."

Minnesota United FC are a reputable Major League Soccer team, in 2019 they reached the finals of the US Open Cup, the oldest ongoing soccer competition in the US. The Minnesota soccer team features some players which football fans may recognise, such as former Finnish Premier League footballer, Teemu Pukki.

Volpe, who acquired a majority share in Woking FC in 2021, had been within a few weeks of putting the club into administration in July, and received a loan from his parents which allowed him to register Woking FC into the league. If Woking FC did go into administration, this would have meant they would not have been able to compete in the 2024/25 National League season.

Woking FC were founded in 1887, and currently play their home games in the Kingfield Stadium which has a capacity of 6,036. The Surrey-based football club are 18th in the National League this season, with only four wins and seven losses in 16 games. The Vanarama National League is the fifth highest football league in the United Kingdom and is the lowest division in the UK which operates on a national level.