US-based consortium close to ambitious £18m takeover of Leyton Orient
A US-based consortium is closing in on an £18m majority takeover of Leyton Orient as part of a plan that could lead to an American football franchise being established in east London.
The League One club announced last month that they had entered exclusive negotiations with a potential buyer which are believed to be at an advanced stage.
The Guardian can reveal the talks involve the proposed purchase of about 70% of Orient by a group of sport, media and tech investors. The buying group is understood to be led by the TV executive David Gandler, who has handled the negotiations with Orient's owner, Nigel Travis. The tech and sports entrepreneur Kit Hawkins and Neil Leibman, an executive at the Texas Rangers Major League Baseball franchise, have had talks about joining the consortium.
Gandler is fronting the bid having sold his 17% stake in Paris FC last October as part of a takeover of the Ligue 2 club by the billionaire Bernard Arnault, France's richest person. The American is a former Warner Bros executive and the founder and chief executive of fuboTV, a streaming platform that broadcasts European football in the US, Canada and Spain.
The England-born Hawkins is based in Los Angeles. His investments include a stake in the TMRW Golf League co-founded by Tiger Woods and Rory McIlroy and a music management company.
Leibman has been a member of the Texas Rangers' ownership group since 2010. He remains on the board and chairs the media company that distributes Rangers games and other content.
A source with knowledge of the buyers' plans told the Guardian they would ultimately like to attach an American football franchise to Orient that would play in the European League of Football. The 16-team competition will begin its fifth season in May and would welcome the addition of the first British franchise, although it is unclear how far advanced the consortium's multi-sport plans are.
A new stadium and training ground for Orient are on the agenda, with the potential new owners viewing Brentford's achievements in building a new ground and establishing themselves in the Premier League as an ideal template.
Orient do not own their ground or training ground, leasing Brisbane Road from the former owners Matchroom and Barry Hearn and training at Chigwell Private School. The prospective buyers want to build a multi-sport venue in east London that could also be used by the local community.
As part of the proposed deal Travis would retain a significant stake and stay as chair, at least in the short term. Orient have been transformed under the American's ownership since he bought them eight years ago.
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Orient were in the National League but are ninth in League One and pushing for a playoff place. They reached the FA Cup fourth round this season, losing 2-1 to Manchester City.
Travis announced his intention to seek additional investment 12 months ago, having concluded the club required outside funding to achieve his aim of establishing them in the Championship. The Dunkin' Donuts owner has taken his time to identify what he believes are the right partners.
Leyton Orient declined to comment.
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