EUROMILLIONS winner and long-standing Partick Thistle benefactor Colin Weir has completed his takeover of the Firhill club.
The 71-year-old finalised the deal to buy a majority shareholding in Thistle on Wednesday night, in a move that also saw Weir acquire a holding in some of the land at Firhill.
Weir bought a 55% share in Thistle that he has promised to transfer to a fan group, while the land - specifically, the south terrace area and the main stand - will be immediately transferred to the Maryhill side, and will revert to full Thistle ownership after 10 years.
The shares that Weir has acquired will be transferred to fans for free by March 30 2020.
He has previously invested around £2.5 million in the club, funding the youth academy and had previously pledged to provide captial for the funding of a training ground for Partick Thistle.
READ MORE: Colin Weir in talks with Partick Thistle board as takeover nears completion
Weir said: "Thistle for Ever [the fan group spearheading the campaign] planted the thought of fan ownership as a real option in my mind.
"But this has all happened quicker than anyone might have anticipated. That's why I have offered a three to four month window for fans to get everything in place before handing over shares.
"They want to get it right and I want to be sure that when the new entity is operational, there is a structure that will allow for a smooth transfer of ownership. This is a major financial commitment on my part as fan owners will not need to repay a penny - but I believe this gives fan ownership the best possible start.
"There will be a further announcement about the members of the interim Board and, subsequent to that, in relation to my funding of the Thistle Weir Youth Academy.
"Today is a great day for a Club that means everything to me. I hope that fans can get behind this exciting development. They talk about Thistle being their Club - and now it really will be."
READ MORE: Partick Thistle announce interim board members following takeover
Gavin Stewart, chairman of Firhill Developments Ltd, said: "We set up FDL, as fans, at a time when Thistle needed investment to survive.
"We could not be happier to see Colin, another fan, now purchase the land and restore it to full Club ownership as it moves on to a new and exciting stage in its history."
Speaking on behalf of the majority shareholders group, David Beattie said: “We are pleased that our hard work in recent months has resulted in today’s sale.
"Our aim has always been to secure the long-term future of the Club and we have done this by selling our shares to a man whose support and love for this Club is beyond question.
"Colin Weir undoubtedly has the best interests of Thistle at heart and, although there were alternatives, we believe that his plan to support fan ownership, with the right mix of experienced business people behind them offers the club a secure future."
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