Crewe Alexandra: Majority shareholder Norman Hassall to sell to local investors
- Published
Crewe have won eight of their 13 League Two games and head the table on goal difference from Exeter City
Crewe Alexandra majority shareholder Norman Hassall has agreed to sell his stake in the League Two club.
Hassall, who has held 51% of the Alex's shares since 2006 as Gresty Holdings (Crewe) Ltd, first joined the board in 1978, but is now to sell to a group of local business owners and investors.
"Following the restructure," the club said, "No single shareholder would own more than 12.5% of the shares."
Crewe are currently top of League Two following several lean seasons.
The club statement said: "Gresty Holdings (Crewe) Limited, which holds the controlling interest in Crewe Alexandra, is pleased to announce that it has reached agreement to sell all of the latter's shares to a group of local investors and supporters.
"The agreement has the support of Norman Hassall and his family, The Railwaymen supporters' society, and the Crewe Alexandra board of directors.
"The agreement ensures that ownership will remain with local people, who have Crewe Alexandra and the community at heart."
Hassall's investment in the 1980s helped the club enjoy the most successful period in their history when, under manager Dario Gradi, they reached second tier level, while also creating a highly successful Academy system, which has produced a string of international players.