US Businessman Todd Johnson to Acquire Majority Stake in Woking FC

US businessman Todd Johnson has finalized a purchase agreement to take a majority ownership stake in Woking, following months of discussions regarding a takeover. Johnson, who previously served as vice chairman for Dagenham & Redbridge, heads the Cardinal Football Group and is also an owner at Major League Soccer club Minnesota United. According to current owner Drew Volpe, the transaction’s completion hinges on a general meeting of existing shareholders. In a statement, Volpe commented, “This transition represents an exciting next step in the history of Woking Football Club.” He added, “Whilst I will no longer be a majority shareholder, I will retain a stake in the club and my support and passion for this great club will remain unchanged.” Volpe, who assumed ownership of Woking in 2021, had informed the BBC in July that the club was mere weeks away from entering administration, having personally invested more than £3 million. He had also stated that a £600,000 loan provided by his parents allowed the club to commence the current National League season. Woking currently occupies 18th position in the National League standings, four points clear of the relegation zone, having secured only four victories in their 16 matches played this season. Their next fixture is an away game against Halifax Town on Saturday.