Featured image credit: MK Dons
Milton Keynes Dons and the wider Stadium MK Group have come under Kuwaiti ownership, with Pete Winkelman ending his control of the English League Two football club after almost two decades at the helm.
The takeover has been announced today (Friday) on the eve of the 2024-25 season, with the club and Stadium MK Group now set to be led by a Kuwait-based consortium headed by Fahad Al Ghanim, whose family own Kuwait Premier League champion Kuwait SC.
The deal, which a statement from MK Dons states leaves the club and stadium group debt-free, has been ratified by all parties following clearance from the English Football League (EFL).
The club said the deal has been made with Al Ghanim in an effort to ensure both the football and stadium assets remain together. Al Ghanim first attended a game at Stadium MK over a year ago, with the club stating he has the “capabilities to invest significantly” in MK Dons and the City of Milton Keynes as a whole.
Winkelman was at the centre of one of the most divisive episodes in recent English football history. He took control of the financially-stricken original Wimbledon club in 2003 after it entered administration, moving the team to Milton Keynes for the 2003-04 season and rebranding it as Milton Keynes Dons from 2004-05.
The club’s initial seasons in Milton Keynes were spent at the National Hockey Stadium before the move into Stadium MK in 2007. Winkelman was the driving force behind the delivery of what was one of the finest stadiums in English football at that time, with an integrated hotel and arena part of the main 30,500-seat facility.
Winkelman said in a statement today: “MK Dons are 20 years old this year and throughout that time we’ve been on a rollercoaster of highs and lows that we have all come through together.
“From winning the League Two and EFL Trophy double in 2008 and promotion to the Championship in 2015, to developing the most successful hotel and events business in the region, we have been able to bring some unforgettable experiences to Stadium MK and Milton Keynes.
“Equally, we have faced difficulties navigating global events such as the financial crash in 2008 and, more recently, the Covid pandemic, where we not only survived but were able to host the first live sporting events in the country.
“However, what has become clear to me in recent years is that while I am so proud of Stadium MK and the sustainable business we’ve created, it can only support the development of the football club to a certain level, without separate and significant investment.
“Over the last year, I have been able to spend time with Fahad and he has convinced me that he brings the passion, determination and ambition to see the club participate at the highest level and has the resources to help it do so.”
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