Yahoo Finance US investment in SPFL will continue - new St Johnstone owner
New St Johnstone owner Adam Webb says American investment in Scottish clubs is "likely to continue" because of a "groundswell of interest" in UK leagues.
The Perth side are the fourth Premiership club to have US ownership after the Atlanta-based lawyer completed his takeover at McDiarmid Park.
The arrival of the 53-year-old, who also has a 10% stake in English League One side Cambridge United, ends Geoff Brown's 38-year reign.
Webb referred to St Johnstone as "a phenomenon" and said the decision to purchase the club "makes good sense to me".
"Americans are dreamers," he added. "We are renowned for trying to do exceptional things. So if they have a passion, they would try to act on that passion, even though some would say 'this is crazy'.
"I have heard plenty of feedback like that, but I think it makes sense and it is likely to continue because there is a groundswell of interest in America for the UK's leagues and there are a lot of resources in America that could be brought to bear.
"What does that mean for the Scottish league? I think it is all positive, I think you want resources in the league because the league has to compete worldwide more than ever. That is going to be boosted and improved by having more resources."
'St Johnstone was best of multiple options'
Hibernian, Dundee and Dundee United are the three other Scottish top-flight clubs under US ownership, while a vote is currently under way on whether Motherwell want to accept or reject American investment.
Webb has "vowed to be transparent and open" as an owner and said predecessor Brown's views on St Johnstone played a part in his decision to take over the club.
The American added: "Once I did focus on Scotland, to see Geoff's comments about the club, the sustainability, the assets, the team that was in place, and to realise that all of that was available... it was obviously the best of multiple options."
Webb says he is at St Johnstone for the long haul and wants the team "to be consistently competitive" by getting into Europe "every few years" having "great cup runs".
He added that player budget has already been increased, but a lavish loosening of the purse strings certainly does not appear to be the strategy he will adopt.
"In my study of the game, that has been a mistake and owners who do that and don't have immediate success have a breaking point, even if they are super wealthy.
"So that is not our intention... I wouldn’t just throw money at player payroll, then you are stuck with contracts that may or may not make sense.
"I think a better goal is to have a great academy, to have young players coming up, those are very reasonably paid players by the very nature of it, use your academy as a springboard, obviously you can have some player sales in the mix."
