Woking Takeover by Cardinal Football Group Nears Completion

Woking has confirmed that “the path is now clear” for the club’s takeover by the Cardinal Football Group, following a shareholder vote in favor of the sale at a general meeting. The club stated that ‘the path is now clear for the transfer of shares to Cardinal Football Group’. Club owner Drew Volpe had reached an agreement to sell the National League team in early November, having previously described the club as “dead in the water.” Subsequently, US businessman Todd Johnson executed a purchase agreement to obtain a majority stake. According to their most recent update, Johnson’s company is expected to assume control of the Cards imminently. In a statement, Woking declared: “The club is delighted to share that following our shareholders’ votes at the EGM [extraordinary general meeting] last week, the path is now clear for the transfer of shares to Cardinal Football Group LLC to complete the deal.” The statement further added, “We anticipate the final paperwork will be finished this week, allowing us to officially announce Cardinal Football Group as the new majority shareholder.” Woking currently holds the 18th position in the National League standings, having accumulated 21 points from 21 matches.