Huw Jenkins: Preferred takeover bidder promises to 'stabilise' Newport County as owner
- Published
Huw Jenkins was chairman of Swansea City from January 2002 until February 2019
Prospective new Newport County owner Huw Jenkins aims to "stabilise" the League Two club if he takes over.
The ex-Swansea City chairman has been given a resounding backing, after approval from the club's Supporters' Trust members passed its 75% threshold.
Trust members currently hold a 79% stake, with Jenkins set to acquire a 52% stake after a members' vote.
"We can't ever forget the journey Newport County have been on," Jenkins, 60, told BBC Radio Wales Sport.
Jenkins says his aim is: "To bring the club back from where it was to where it is today and I think to try and be able to be a little part of that in the future, to help them stabilise and perhaps provide them with my experience.
"Let's hope that works and provides a little bit more success."
Jenkins will make an initial £500,000 investment in return for the 52% stake, although that must be approved by the Football League (EFL).
On Thursday the Trust, which has owned and run the club since 2015, voted in favour of Jenkins' proposal, chosen ahead of a bid from a US-based consortium including Dan Donoghue and current Newport director Jon Pratt.
In the vote, 455 of 464 members who took part went with Jenkins' proposal, which includes a pledge that the Trust will maintain two directors on the Exiles' board as well as retaining a 27% share.
Fans had been warned they faced an "urgency to secure the financial future for 2023-24 and the longer term", external and could have to find £500,000 to fund ongoing losses and pay creditors, after posting losses of £1.2m in the most recent accounts.
"To be able to be part of the club and the way that it's run by the Supporters' Trust over many years is a big thing for me to be accepted and to be part of that, and I'll do my best to make the supporters and people of Newport proud," Jenkins said.
Newport County are tenants at their Rodney Parade ground, which they share with the city's two leading rugby teams - Dragons RFC and Newport RFC.
Jenkins says his first priority, along with easing financial pressures, is to secure the club's place at its current home and to invest in the playing squad.
"Without doubt I think there has been a little uncertainty about making sure that the Rodney Parade lease and things are right, and I think that's a big thing for the future of the football club making sure that there is a long-term lease in place to provide stability for everybody there," Jenkins said.
"I think number one as always in sport is finding good facilities for (manager) Graham Coughlan and the team to train at regularly in one place, and then providing a little bit more help when the transfer windows come along.
"Hopefully my experience can help with a bit of direction and help everybody to bring a little bit more success there."
Jenkins became Swansea chairman in 2002, part of a group that rescued the club and oversaw a rise from the bottom division to the Premier League, qualifying for European football and winning the League Cup along the way.
Swansea were taken over by an American consortium in 2016 and Jenkins stepped down as chairman in February 2019.
Jenkins hopes to bring all that experience to the table as he prepares for the hot seat at another Welsh club battling to keep its head above water in League Two.
"I spent nearly 20 years doing what I did in football and every football club needs leadership and direction," Jenkins said.
"I'm just hoping all the good and bad things I have picked up over the 20 years can help, like I did working with managers and perhaps having a few more contacts in the game.
"That knowledge can perhaps help them in the transfer market, and those little things can be the extra percentage you need to hopefully - with a bit of luck - bring success.
"Success to me is first and foremost making sure you stay firmly in League Two and then challenge for the top of that, and then ultimately it's always got to be that ambition to be promoted... we've got to provide that ambition and motivation in the club to take it forward."
Jenkins stressed that even if he has a controlling stake, he intends to work in collaboration with the Supporters' Trust - but with EFL approval needed to get a deal over the line he is not taking anything for granted.
"There is a financial due diligence, completion of contract - it was always subject to contract, so that's got to be finalised and has to be right for the Supporters' Trust as well when they are handing over shares," he added.
"The EFL process might take a few weeks with the new owners/directors test, so we're probably looking at the whole month of October to try and finalise and we will be doing our best to do it as soon as we can really."
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