Leyton Orient have become the latest English club to be taken over by a foreign owner after chairman Barry Hearn agreed to sell his 90 per cent stake in the club to Italian businessman Francesco Becchetti who works in renewable energy and waste management.. This shows that even a smaller London club in League 1 can be an attractive proposition.
Leyton Orient have become the latest English club to be taken over by a foreign owner after chairman Barry Hearn agreed to sell his 90 per cent stake in the club to Italian businessman Francesco Becchetti who works in renewable energy and waste management.. This shows that even a smaller London club in League 1 can be an attractive proposition.
Hearn, a lifelong Leyton Orient fan, has always maintained he would only sell his controlling stake to someone who had the money to take the League One club to a higher level and he is satisfied Becchetti is willing to invest huge amounts to try and do so.
Hearn is one of the longest serving owners in English football, having taken charge at Brisbane Road in 1995. The snooker and boxing promoter will not remain on the board but he still owns the stadium.
Orient dropped their opposition to West Ham moving into the Olympic Stadium last week, concluding a confidential agreement with the Premier League. and will remain at Brisbane Road for the foreseeable future, although there is scope for them to play big games at the new home of the Hammers when its conversion to a football stadium is completed next year.
Becchetti was originally interested in buying Championship club Reading, but was concerned by the size of the club’s debt. Orient, though, are debt-free and he will be able to put all his money into team building.