Barry Hearn sells 90 per cent stake in Leyton Orient to Italian Francesco Becchetti to bring in new era at Brisbane Road
Becchetti is head of renewable energy and waste management firm the Becchetti Energy Group and had previously been linked with takeovers at Reading and Italian outfit Bari.
After weeks of negotiations the 90 per cent shareholding was passed to Becchetti, who had been negotiating with Hearn for a number of weeks, on Monday.
The change in ownership brings to an end the 19-year reign at the League One side for the boxing promoter and chairman of promotions company Matchroom Sports who acquired a controlling stake back in 1995.
Hearn has resigned from the board of directors along with his son Eddie, Steve Dawson and David Dodd, while Matthew Porter has stepped down as chief executive but will remain with the O's.
Orient also confirmed they will announce the identities of their new board of directors in the near future.
Eddie Hearn tweeted: ‘End of an era at Leyton Orient for us; been a brilliant 19 years, [We’ve] shared some huge highs and lows! Will never forget promotion to League 1, the draw with Arsenal and even the heartbreak at Wembley in May.
'The club became a big part of our family and our heart and now has a chance to really kick on with a new owner and new investment to take it to another level. Exciting times for the Club and fans.’
http://www.dailymail.co.uk/sport/football/article-2683624/Barry-Hearn-sells-90-cent-stake-Leyton-Orient-Italian-Francesco-Becchetti.html
- The League One side are under new ownership after Hearn sold his stake
- Becchetti is head of renewable energy and waste management firm the Becchetti Energy Group
- After weeks of negotiations the 90 per cent shareholding was finally sold
- Eddie Hearn, Barry's son, Tweeted: 'The club became a big part of our family and our heart and now has a chance to really kick on'
Becchetti is head of renewable energy and waste management firm the Becchetti Energy Group and had previously been linked with takeovers at Reading and Italian outfit Bari.
After weeks of negotiations the 90 per cent shareholding was passed to Becchetti, who had been negotiating with Hearn for a number of weeks, on Monday.
The change in ownership brings to an end the 19-year reign at the League One side for the boxing promoter and chairman of promotions company Matchroom Sports who acquired a controlling stake back in 1995.
Hearn has resigned from the board of directors along with his son Eddie, Steve Dawson and David Dodd, while Matthew Porter has stepped down as chief executive but will remain with the O's.
Orient also confirmed they will announce the identities of their new board of directors in the near future.
Eddie Hearn tweeted: ‘End of an era at Leyton Orient for us; been a brilliant 19 years, [We’ve] shared some huge highs and lows! Will never forget promotion to League 1, the draw with Arsenal and even the heartbreak at Wembley in May.
'The club became a big part of our family and our heart and now has a chance to really kick on with a new owner and new investment to take it to another level. Exciting times for the Club and fans.’
http://www.dailymail.co.uk/sport/football/article-2683624/Barry-Hearn-sells-90-cent-stake-Leyton-Orient-Italian-Francesco-Becchetti.html
