Grimsby Town have announced the approval of a £1.5 million share issue to its majority shareholder, 1878 Partners Limited.
The move follows the shareholders’ approval in August for the conversion of £3.4 million worth of loans into equity, with 1878 Partners now set to hold 88% of the club’s shares. It will give a huge boost to Mariners’ fans, who have seen their club make an indifferent start to the current League Two season.
The transaction has been funded by selling a minority stake in 1878 Partners to a group of new investors, including long-time Grimsby Town fans from both the UK and abroad. This group also includes a consortium of US-based sports enthusiasts, further expanding the club’s ownership network.
Among the new investors are James Harrison and Miles Gooseman, both lifelong supporters of Grimsby Town. Harrison, originally from Grimsby, now resides in Essex and has built a career in global financial markets, co-founding the technology company Genesis Global in 2015. He expressed his excitement at joining the ownership group, saying, “I couldn’t be prouder to be an investor into 1878 and I am looking forward to supporting Andrew, Jason, and the rest of Grimsby Town FC with their continued successes and in Grimsby more widely.”
Gooseman, now based in Singapore working in the wealth management sector, regularly returns to Grimsby to watch matches and visit family. Both investors bring valuable expertise and deep ties to the club, strengthening the board’s commitment to advancing Grimsby Town’s ambitions.
Andrew Pettit, Chair of Grimsby Town, welcomed the new investment and commented, “We are delighted to be able to welcome a terrific group of new investors to the Club. James, Miles, and the other investors… share our vision for building a sustainable community asset that is a source of inspiration for our town.”
Pettit also encouraged other like-minded investors to get involved as the club aims to push through the football leagues.
The Mariners have had a mixed start to the 2024/25 League Two season. After five games, they sit lower mid-table with six points, having won two and lost three but conceding ten goals already. They managed a notable 2-1 victory against Bradford City at the end of August, showing glimpses of promise, but inconsistent performances have left them searching for stability.
Writer’s View
The new share issue and the introduction of fresh investors signal Grimsby Town’s ambition to secure long-term financial stability and success. By attracting experienced individuals with personal and professional ties to the club, Grimsby Town demonstrates a strategy focused on financial backing and fostering deep community connections. This approach aligns with the club’s vision of being a sustainable asset for supporters and the wider region.
However, while the new investment strengthens the club’s financial position, it also pressures the board and management to deliver results on and off the pitch. Grimsby Town’s push for promotion will now be closely watched, and the new investors will be eager to see progress in line with their commitment to the club’s future growth.
