St Johnstone takeover ‘agreed’ as American Adam Webb set to replace Geoff Brown at McDiarmid Park helm

American money man Adam Webb is set to buy a controlling stake in St Johnstone.

Saints owner Geoff Brown has been locked in talks with the Georgia-based lawyer for some time and now they have thrashed out a deal that will see Webb snap up 75 per cent of shares in the McDiarmid Park outfit. Webb, who also owns a 10 per cent stake in Cambridge United, was in Perth back in February to see Craig Levein's side take on Ross County and Hearts alongside business partner Matthew Klase.

As well as talks with Brown, he also sat down with Levein to talk football and what the club would require going forward to compete in the Scottish Premiership. The deal still needs approval from the Scottish FA and English Football League given his involvement with Cambridge, but that is expected to be ratified without any issues. Newly registered company Saints in America will be the vehicle used to complete the takeover

St Johnstone posted a £1.5million loss in last year's annual accounts and are set to record another this year. it is hoped Webb's involvement will see the finances improve. However, it's unlikely that extra cash will be made available for a summer transfer splurge.

He becomes the latest American owner in the SPFL. The Gordon family assumed control of Hibs after former executive chairman Ron's passing. They have welcomed fellow American Bill Foley on board after the Bournemouth owner set up a similar dual involvement deal with the Hibees, investing £6million for a minority stake.

Just along the road from Saints in Dundee, Mark Ogren's ownership of Dundee United has seen the Tangerines relegated to the Championship. They;ve finally bounced back up after winning the title under Jim Goodwin, although must wait and see if the Perth club avoid the relegation playoff spot before they can take them on in an all-American Tayside derby next season.