Woking Club ‘Dead in the Water’ Before Sale Agreement, Says Outgoing Owner

Woking, currently 18th in the National League with only one win in their last 12 matches across all competitions, is poised for a future where the “sky is the limit” under its prospective new owners, according to Drew Volpe, who has agreed to sell the financially distressed club. Volpe disclosed that the club was “dead in the water” prior to American businessman Todd Johnson signing a purchase agreement to obtain a majority stake in the National League team. Johnson, who previously served as vice chairman for Dagenham & Redbridge, heads the Cardinal Football Group and is also part of the ownership collective for Minnesota United, a team competing in Major League Soccer. “We needed help. This club was dead in the water financially,” Volpe informed BBC Radio Surrey. “This happened in 2019 and again in the summer but Todd has come in and saved us.” In a BBC interview conducted in July, Volpe disclosed that the club had been mere weeks away from entering administration, after he had personally invested over £3m of his own funds into the Cards. He had previously stated that a £600,000 loan provided by his parents enabled the club to commence the season. Volpe mentioned that Johnson initially showed interest in purchasing the club, which currently ranks 18th in the National League, during “February or March.” “Todd brings a wealth of experience both from the football side and from the business side,” he commented. “He shares the same vision that I had. At some point you run out of money.” “I honestly think that the sky is the limit for this club now that we have the right people in place.” Volpe and his business associate, John Katz, assumed control of Woking in 2021. The club concluded the 2021-22 National League season in 15th place, followed by a promotion campaign in 2022-23 where they secured fourth position, trailing Wrexham, Notts County, and Chesterfield. Woking was subsequently defeated by Bromley in the play-off eliminator. This season has seen Woking experience a difficult beginning, leaving them only four points above the relegation zone, having recorded a single victory in their previous 12 games across all competitions. Volpe indicated that the subsequent phase in the sale process involves convening a general meeting for current shareholders prior to the finalization of the agreement.