American consortium GSG LOFC Limited, led by New York businessman David Gandler, has completed a takeover of English League One club Leyton Orient.
The group has acquired 100 per cent of the east London club from its previous owner Eagle Investments 2017 Limited. Gandler, who is also the co-founder and CEO of streaming service FuboTV, will be the majority shareholder, owning 78.55% of the club.
Gandler described it as an “honour” to join Orient in a statement on the club’s website and said that he does not “intend on being too hands-on with the day-to-day running of the club.”
“Our aim is to become a Championship club in the future,” he said. “We hope to achieve this by making sensible investments in our playing squad and off-pitch projects. Whilst we are very ambitious, we will not spend recklessly and will never make decisions that could jeopardise the future of this special football club.
“I still have lots more to learn about Leyton Orient and our fans and I’m very much looking forward to embracing those history lessons and meeting supporters in person.”
The club confirmed that Nigel Travis will be continuing as chairman.
“Our new investment will enable us to continue our on-pitch progression, whilst also pursuing other projects that will protect the long-term future of Leyton Orient, such as a new stadium and training facility,” he said.
“Our investment search was a considered and thorough process, which has lasted more than 14 months, and I am confident that David can help to drive Leyton Orient forwards.”
Orient are sixth in League One and in contention for promotion to the Championship via the play-offs with two games to go. The club has not played in the second tier since the 1981-82 season. They host Wycombe Wanderers on Saturday.
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