Dundee United have confirmed they are now owned by American businessman Mark Ogren.
Ogren has bought a controlling interest – 85.6% – of the shares and has become the club’s new chairman, replacing Mike Martin.
The club’s statement, issued this morning, read: “Dundee United are pleased to announce the purchase of a controlling stake in the club by Mark Ogren, a US-based businessman.
“Mr Ogren has acquired 85.61% of the issued share capital in Dundee United Football Company Ltd previously owned by Mike Martin and James Fyffe.
“Mr Ogren, whose business interests span oil services, software and real-estate becomes the club’s new chairman with Mr Martin stepping down both as chairman and board director. Mr Fyffe and David Dorward remain directors at the club.
“The result of several months of discussions, this acquisition provides Dundee United with the strong financial foundations required to support the club’s football ambitions, specifically a return to the Ladbrokes Premiership.”
Now former chairman Martin said: “Throughout our discussions, I was impressed by Mark’s passion for sport in general and his vision and ambition for Dundee United.
“He has developed a keen understanding of our rich history, our values and traditions, the importance of our community role and the passion and loyalty of the supporter base.
“I feel privileged to have been chairman at this great club and I am grateful for all the support and assistance given to me throughout that period.
“I leave with confidence that Dundee United’s future is in very good hands.”