Garlick completes takeover of Cheltenham Town
Former Burnley chairman Mike Garlick has completed his takeover of Cheltenham Town.The 61-year-old entered a period of exclusivity with the League Two side in June and has now "completed his acquisition of a controlling interest in the club combined with a commitment for future investment".AdvertisementAdvertisement AdvertisementGarlick told the club's website: "I met some of the board members back in May and visited the stadium and training ground. From that moment on I knew this was the club I wanted to be part of."I believe firmly in evolution rather than revolution and step-by-step we will seek to drive the club forward both on and off the pitch, whilst remaining firmly rooted in our local community and loyal fan base."Garlick spent 17 years on the board at Turf Moor before he left in 2023, including eight as club chairman during which the Clarets twice won promotion to the Premier League.He also owns Gibraltar top-flight club St Joseph's and third tier Spanish side FC Antequera.AdvertisementAdvertisement AdvertisementGarlick and his wife Alison will now join the Cheltenham board.Meanwhile, John Murphy has retired from the board but will become the club's honorary president for a five-year term.Chairman David Bloxham explained that the club have been operating with "financial and practical restraints" and that it "has been a source of frustration that we have been unable to undertake significant improvements to facilities and infrastructure or retain our best staff".Bloxham added: "Mike Garlick brings with him a great deal of football knowledge and experience which I am confident will bring significant benefits and growth to our club."AdvertisementAdvertisement AdvertisementCheltenham confirmed last October that they were looking for "substantial" new investment with three of their four biggest shareholders willing to sell their stakes in the club.The Robins had been owned by an array of shareholders, with the supporter-led Robins Trust having the third largest stake at 16% as of March 2024.The Trust retain their share as the second-largest shareholders.The rest of the ownership remains split between a large number of minor investors. However unlike other clubs, the board of directors - appointed by the shareholders - run the club rather than the owners.AdvertisementAdvertisement AdvertisementCheltenham finished 15th in League Two in 2024-25, with 15th in League One achieved in 2021-22 - their highest-ever finish in the English Football League.Michael Flynn's side are currently bottom of League Two, without a point from their opening four games, going into Saturday's visit of Barnet.
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