Interview With St. Johnstone Owner Adam Webb
When American Adam Webb took over as owner of St. Johnstone last summer, if he faced a significant challenge—a head and neck cancer diagnosis. Just over six months on, though, Webb has completed treatment (chemotherapy and radiation) and was deemed cancer free in January, following testing.
“A huge weight lifted,” the Atlanta-based businessman told Full Scottish. “There are numerous side effects that I have to deal with but I am mostly feeling great.”
The Full Scottish
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Demonstrating the unique courage of a cancer survivor, Webb has described the experience as “spiritually uplifting,” citing the support from family, friends, even random individuals, and the “St. Johnstone Family.”
The Perth club has long pointed to its “family” culture with pride, but Webb’s arrival has marked a significant change, after former owner Geoff Brown ended his tenure following nearly 40 years in charge. Now, Webb will helm the club as it navigates the rough waters facing all of Scotland’s clubs that don’t call Glasgow, Edinburgh or Aberdeen home. The course is particularly fraught, given that the Saints currently sit at the bottom of the Premiership table.
With 49ers Enterprises—the investment arm of the San Francisco 49ers NFL team—reportedly in negotiations to purchase a controlling stake in Rangers (now with former captain Barry Ferguson as gaffer), the Full Scottish decided to catch up with one of the Premiership’s other American owners (Bill Foley and Black Knight Sports and Entertainment at Hibernian is another) about what makes Scotland’s game so ripe for investment.
One thing to clarify first: Webb’s involvement at St. Johnstone is not an example of the increasingly popular multi-club ownership (MCO) scheme. Though the American owned a 10% stake in Cambridge United in England until this fall (he sold the shares after his cancer diagnosis), he now only has controlling interest in the McDiarmid Park club—unlike Black Knight (Hibs, Bournemouth), 49ers Enterprises (Leeds United and, perhaps, ’Gers) and the City Football Group.
“A Scottish club was first on my list because of the many positives of Scottish football: passionate fans—likely the world’s most passionate—[and] dynamic and successful leagues,” Webb explained of his decision to buy into St. Johnstone. He added that the country has “clubs with long histories … all in one of the most beautiful parts of the world.”
As a foreign investor, he also noted that it helped that people in Scotland primarily speak English. “Though some might disagree,” he joked.
For Webb, “St. Johnstone carries all of these positives, including a 140-year history, a beautiful city and incredible supporters.”
Still, the club is not without it’s challenges: According to its most recent financials (through May 2024), the club posted just a £110,000 profit on revenues of just over £6 million for the 2023-24 and maintained cash reserves of £3 million. Although Webb admits his “judgment was clouded by emotion and excitement” during the purchasing process, which saw him take a 76% stake in the club, he believes “St. Johnstone has several unique assets that make it an excellent business. These include: a great staff of dedicated employees; substantial real estate assets including a 22-acre campus in a great area; an excellent 10,600 seat stadium with several VIP hospitality suites that are often booked six days each week; and being the only SPFL club in Perth,” a city of nearly 50,000 people.
St. Johnstone also owns its ground, and its youth set up has been hugely successful in recent seasons, a must for a club its size. That said, Webb acknowledged, “I do not expect annual dividends!”
Indeed, judging by our exchange, the new owner is seeking something else from leading St. Johnstone that goes beyond money.
“Frankly, I never evaluated this purchase as simply a business investment,” Webb said. “I know what American fans love about UK football, because I am one of them. We love the tradition, the passion, the history and the promotion/relegation dynamic that USA leagues are too greedy to institute. Scotland has all of these, and to a slightly higher level than the EPL and EFL. And we have characters, compelling, poignant and hilarious characters that are second to none in the world.”
Amen to that.
In Part 2, next week, we’ll delve into some of Webb’s current and future plans for St. Johnstone.