The money behind Huddersfield Town: How Kevin Nagle built his fortune
Two years after leading the Terriers to the play-off final, the team was relegated from the Championship as a result of
the 70-year-old’s (71 on September 15th) first full season in charge.
The Yorkshire team finished 10th in the standings and failed to achieve promotion back to the second level on their
first try.
Huddersfield will be hoping that their summer business, which included hiring Lee Grant as manager, will help
overcome the deficit to the top of the table, as they look to secure a return to the Championship at the second
attempt.
Here we look at how the club’s owner, Nagle, made his money prior to his purchase of Town over two years ago…
How Huddersfield Town owner Kevin Nagle made his fortune
Nagle has experience in business, having made investments in the health sector in the 1980s.
Before going it alone to co-found his own pharmaceutical company, the American was employed by the investment
firm EF Hutton.
After this business was eventually sold for £1.8 billion, he was able to put the proceeds back into real estate and
pursue other endeavours.
The Nagle Company was established by the Huddersfield owner, who used it to invest in retail, entertainment,
commercial, and residential real estate.
Although this was his next move after selling his pharmaceutical business, he also made investments in sports.
The Sacramento Kings, an NBA (National Basketball Association) team, were Nagle’s first foray into sports
ownership.
In the end, the businessman increased his wealth by selling his basketball team interests for an estimated £6.7
billion.
After that, he started owning football in the US with Sacramento Republic, eventually assisting the team in moving
from the USL (United Soccer League) to Major League Soccer.
This was through heavy investment, as he looked to build up the team’s profile with better infrastructure.
Nagle has also been involved in esports, investing in NRG Esports in 2019, with the team competing in many events,
involving games such as Overwatch.
Kevin Nagle’s Huddersfield ambitions
Nagle, who is starting his third season as Huddersfield’s owner, most recently oversaw a pre-tax deficit of £6.6
million for the fiscal year 2023.
The American stated in February that additional losses are expected to happen because the team’s turnover has
significantly diminished throughout their two seasons in the Premier League.
When the Terriers were in the top flight from 2017 to 2019, their yearly revenue was approximately £119 million;
however, since being relegated to League One, that amount has fallen to just £18 million.
However, despite the expected future losses, the Huddersfield owner made clear his hope that current investments
will help to raise the club’s profile and turn around their financial situation in the long-term.
“I don’t believe there will be any significant changes. According to Insider Media, Nagle stated, “I would say this
much, we are going to lose a lot of money, no question.”
“We are now investing in the club and its infrastructure, but that cannot continue and is not sustainable. This entails
ensuring the academy has a solid foundation.
Additionally, we are investing in the stadium, which required very little capital investment aside from small sums to
make it compliant.
Even before we get complete control of John Smith’s Stadium, we are already carrying out those actions. In addition
to what we are doing on the pitch, those are happening.
“We recently added three new players to our roster. All of that indicates that you will suffer losses.
It is evident that Huddersfield wants to return to the second division, which would also aid them financially when
compared to League One, even though they were unable to get promoted back to the Championship.
Read more news on https://www.sportupdates.co.uk/
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