State of play as Preston North End 'ownership review' emerges in report
PNE have been owned by the Hemmings family since 2011
Reports of Preston North End conducting an ownership review are understood to be accurate.
On Thursday morning, it was reported by Sky News that the Lilywhites are working with bankers, to explore ‘future options’. Rothschild are the financial advisers assisting PNE with their strategic review. The financial service group is vastly experienced in the world of sport - they are currently assisting Brentford, West Ham and Tottenham Hotspur with work.
As far as North End are concerned, the news does not change a great deal. It has been continuously communicated, and reported, that the Deepdale club is available to buy, to the right party. The Hemmings family have owned PNE since 2010. Trevor Hemmings died in 2021 and his son, Craig, is chairman of North End. The owners put in around £11-12m-a-year.
Two consortiums have been linked with buying the Lilywhites this year - a New-York based group, as well as a ‘mystery’ Miami group. The work with Rothschild does not mean Preston’s stance has changed. The bankers will help ensure PNE are prepared as best as possible, should the right party come along and any sale materialise. The last time a potential takeover advanced, the businessman involved was Chris Kirchner - who has just been jailed for 20 years.
Speaking about the current owners earlier this year, director Peter Ridsdale said: "Their support is totally unwavering and it is outstanding. We sit down each summer and they tell me how much cash they wish to put in. We balance that against FFP regulations and I know that cash will be there come hell or high water. I think they are under-appreciated and people should take one step back and have a look at 'What would happen if?'
"What they are also saying, very clearly, is if somebody turned up at the door and said 'here is how much cash we've got; this is what we'd like to do with the football club' - and the belief was they could sustain it and take it forward, they would be welcomed with open arms. Nobody is here in a sort of bunker mentality, saying 'leave us alone, we don't want to talk to you'."