U.S. Businessman Tom Crotty Invests $1M In Scottish Premiership Side Aberdeen
U.S. businessman Tom Crotty made an investment of $1M in Scottish Premiership side Aberdeen "through the acquisition of shares in the club," according to Adele Merson of the Aberdeen EVENING EXPRESS. Crotty, who is "heavily involved" in U.S. charity Grassroots Soccer, was introduced to the club by Dir Dave Cormack. The new investment "follows the club's earlier announcement" it has secured more than 60% of the funding required for "the first phase of its plans for a new stadium, training academy and community sports hub" at Kingsford. These pledges, coupled with Crotty's investment, bring "the total for phase one" to more than £6M ($7.9M) and mean that if planning "is granted in the new year, construction could be under way almost immediately" (EVENING EXPRESS, 11/20). In Glasgow, Darren Cooney reported Crotty said that his interest "was piqued due to the club's determination to relocate from Pittodrie and set up a training ground that would also be used by the community." He said, "I'm really happy to be part of what is a very exciting time for the club both on and off the pitch. My experience of soccer is that it has a profoundly positive impact across whole communities. This is why my investment is directed towards enhancing the community facilities on offer as part of the club's modern and progressive development" (Scotland DAILY RECORD, 11/20). The BBC reported Crotty, who attended a game at Pittodrie with Cormack, "made his fortune working in the communications and software industries, leading investments in dozens of early-stage companies." He sits on the boards of numerous private and not-for-profit organizations "as well as on the board of trustees" at Notre Dame. Aberdeen Chair Stewart Milne said, "It's great to see Dave's efforts in attracting U.S. investment to the club come to fruition" (BBC, 11/20).