Legendary St Johnstone chairman Geoff Brown has announced that he will be selling his majority shareholding of the club.
The construction magnate took control of Saints in 1986 and completely transformed the club, building a brand-new stadium at McDiarmid Park and putting in a solid financial structure that has stood the test of time.
After the news yesterday that his son Steve would be stepping down as chairman come the end of the season, Geoff has now confirmed that he will sell his shares in the club, while also donating the net proceeds to the club's Community Trust.
If a sale is not finalised by May 31 next year, Geoff will succeed his son as chairman.
Geoff Brown said: "With Steve announcing that he will be stepping down as Chairman on May 31 2023, I will temporarily take on the role as chairman from June 1 2023.
"I would like to place on record my thanks to Steve for his tireless efforts during his chairmanship of the club, within which time we have enjoyed unparalleled success, including winning three major trophies, and playing in European competition on countless occasions.
"I can also announce that I am looking to sell my shareholding in St Johnstone Football Club with a view to handing the running of the club over when the sale is complete.
"As those that know me well will attest to, my ownership of St Johnstone Football Club has never been about the money.
"It has been a labour of love that, at the heart of it, has been an ongoing mission to ensure the stability and financial viability of the football club whilst always striving to achieve success on the park.
"It is therefore my intention that the net proceeds from the sale of my shareholding will be put towards building a community hub for the St Johnstone Community Trust, for the benefit of the football club and the local community.
"Whilst not without its many challenges, I will always look back on my 37 years as majority shareholder of St Johnstone Football Club with fondness and, with the building of the community hub, I am keen to ensure a legacy that will be enjoyed by many for generations to come."
