Lancaster City bolstered by Canadian investment
Lancaster City have announced that Toronto-based investment company Go North Ventures Inc. will commit money to the Dolly Blues over a two-year period, acquiring a controlling interest in the club in the process.
The NPL Premier Division side have confirmed that the first stage of investment has already been finalised, with further funding set over the coming months.
Led by entrepreneur Alex Shteriev, the North American company have outlined four key four priorities for those initial 24 months.
The first is a programme of sponsorship, hospitality and matchday partnerships designed to achieve ‘financial self-sufficiency’, while the second is investment across women’s and junior football, alongside the first team.
Another key goal is continued improvement of the Giant Axe and any playing facilities, via grant funding and partnerships where possible.
Finally, the firm are looking to broaden the club’s reach across the city and further afield nationally - telling the story of non-league football and those who participate.
The Dolly Blues have confirmed that every senior figure currently running the club will remain in their position, in what they described as a “condition of the investment”.
That means Andy Baker continues as chairman, Amy Evans as finance director and Jimmy Marshall as men’s first team manager.
“The phased structure is deliberate in order to introduce capital into the club in step with delivery rather than all at once, giving shareholders and supporters visibility of progress at every stage, thus avoiding the abrupt change of control that has destabilised so many clubs at this level of English football,” a club statement read.
“Lancaster City will remain a Lancaster club, at Giant Axe, under the same name, crest and colours it has carried since 1911.”
At the time of the takeover, Lancaster sit 15th in the NPL Premier Division having won three of their opening eight league games.
They only missed out on the play-offs by a point last season, a sixth-placed finish their highest since the Covid-curtailed 2019/20 campaign which saw them lie fifth in the table when the season was abandoned.
“It is this formidable team of individuals that has been managing the club, combined with the city’s rich history and incredible hospitality, that drew me to invest in Lancaster City FC”, said Alex Shteriev, president of Go North Ventures.
“I believe that, together, we can make this a real success story - one that resonates not only with football fans, but with anyone who loves to root for the underdog.”
Go North Ventures’ move to take a controlling interest in the 115-year-old club will further strengthen Lancaster’s ambition to “compete for promotion from the Northern Premier League Premier Division while building the commercial and structural foundations that would allow it to sustain a higher level”, the club added.
“We are delighted to welcome Alex and Go North Ventures to Lancaster City FC,” read a joint-statement from chairman Baker and finance director Evans.
“For us, the most important thing about this investment is that it builds on the work that has already been done at the club. Alex’s approach has been particularly important to us. He understands that this is a football club first and foremost, and that sustainable progress comes from working with the people who know the club, its supporters and its community.
“We are excited about what we can achieve together - commercially, operationally and on the pitch - while remaining true to what makes Lancaster City special.”