“I believe that, together, we can make this a real success story”: Investment firm puts cash into Dolly Blues

A Canadian investment company has agreed to acquire a controlling interest in Lancaster City.

The club announced on Wednesday morning that Toronto-based Go North Ventures Inc. will put money into the club over a two-year period.

A first injection of funds has been received from the firm, led by Alex Shteriev: a mergers and acquisitions advisor with more than 15 years of transaction experience and a co-founder of Beacon Advisors, a leading boutique M&A firm operating across North America.

The club’s statement said: “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.

“Lancaster City will remain a Lancaster club, at Giant Axe, under the same name, crest and colours it has carried since 1911.”

The club added that every senior figure currently running the club remains in place — which was a condition of the investment rather than a concession.

That sees Andy Baker continuing as chairman, Amy Evans as finance director and Jimmy Marshall as first-team manager.

Shteriev said: “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.

“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.”

The Dolly Blues represents the first investment in professional sport for Go North Ventures, who have set out four priorities for the initial two years.

The first is a programme of sponsorship, hospitality and matchday partnerships, designed to help the club towards financial self-sufficiency, so that progress is funded by earned revenue rather than underwriting.

It is also targeting investment across every team in the club’s system — women’s, youth and junior football as well as first team.

They are also looking for a continued improvement of Giant Axe, along with playing and training facilities, through grant funding and partnerships where available.

Finally, it is looking to broaden the club’s reach and support across Lancaster and nationally, telling the story of non-league football and the people who play it.

“We are delighted to welcome Alex and Go North Ventures to Lancaster City FC,” added Baker and 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.

“We look forward to working closely with Alex, Go North Ventures, Jimmy and his football staff, our supporters and the wider Lancaster community as we begin this next chapter for the Dolly Blues.”