St Johnstone owner Geoff Brown has agreed to sell his majority stake in the Scottish Premiership club to American businessman Adam Webb.
Talks between Brown and Webb have been taking place over the last few months and a deal has been finalised for the Georgia-based lawyer to take control in Perth.
The American already owns a 10% shareholding in English League One club Cambridge United and both the Scottish FA and the English Football League will need to approve the sale.
Webb, along with business partner Matthew Klasse, has set up a company in the United States called Saints In America LLC which will be used to complete the takeover.
Brown, who bought Saints in 1986, announced he was selling his majority shareholding in December 2022, around the same time his son, Steve, stood down as chairman.
He sanctioned the move from Muirton Park to current home McDiarmid Park shortly after taking control.
When putting the club up for sale, Brown said “net proceeds” from the deal would be put towards building a community hub for the St Johnstone Community Trust.
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