St Johnstone sale complete as Brown hands over to Webb

Adam Webb has completed the purchase of a controlling stake in St Johnstone, former owner Geoff Brown has confirmed.

Brown has been the majority shareholder since 1986 and says he is leaving with the Perth club in a "stable financial position".

Brown also assured fans that Webb is a man of "high integrity" who has the "best interests of the club at heart".

The American lawyer has bought Brown's 75% holding after the move was given approval in principle by the Scottish FA in May.

Webb has a 10% share in English League One side Cambridge United.

"As I look back on my 38 years as majority shareholder of the club, I do so with a lot of pride," Brown wrote in an open letter to supporters., external

"I know that some of the decisions taken over the decades may not have been popular at the time but the one thing I can guarantee is that all decisions taken have always been done with a view to it being in the best interests of the club and in an effort to ensure that the club remained viable, and there for all to support and enjoy.

"It hasn’t been easy on any of us at various points during that time but we have stuck together and I trust that we have made some great memories along the way."

Brown plans to use proceeds of the sale to create a community hub which he believes will be "of great benefit to both the football club and the local community, for generations to come".