Lincoln City: Harvey Jabara becomes Imps' biggest shareholder
- Published
Harvey Jabara is an investment executive who also has a minority stake in Major League Baseball club San Diego Padres
American Harvey Jabara has become Lincoln City's largest shareholder.
Jabara and his family, who have invested in the League One club through their company HJ-LCFC Holdings, now own 37.75% of Lincoln's parent company.
The Arizona-based family, which first took a 9% stake in Lincoln City Holdings in 2021, has replaced Clive Nates as the club's biggest investor.
Investors put £3m into Lincoln in the year up to June 2023, a period in which the club made a £2.6m pre-tax loss.
When Jabara first got involved with the Imps, he made a high-profile impression by unveiling that former USA international and Everton forward Landon Donovan would also come on board as a strategic advisor.
Lincoln's latest financial report said they anticipate the club's operating loss "to exceed £3m" for the forthcoming year and added that "directors and key investors continue to support the club with ongoing investment".
Shares worth £2.2m have already been issued since June 2023.
"We are particularly grateful to the Jabara family for their significant and regular contributions since first becoming involved with the club," Nates said in the report.
Lincoln also reported about £600,000 in player sales, a sum that includes a sell-on fee generated by ex-Imp Harry Toffolo's move from Huddersfield to Nottingham Forest in the summer of 2022.
The club's transfer spend for the year was more than £400,000.