Tranmere Rovers: Nicola and Mark Palios to sell minority stake through share issue

Mark and Nicola Palios
Mark and Nicola Palios took a controlling interest in Tranmere in August 2014

Tranmere Rovers chairman and vice-chairman Mark and Nicola Palios have agreed to sell a minority stake to an Indonesian-based investment group.

Santini Group is owned by brothers Wandi, Lukito and Paulus Wanandi and the deal will see Lukito take a seat on the board of the League One club.

Tranmere have enjoyed back-to-back promotions in the past two seasons from the National League and League Two.

The deal has been made possible after the Palios' agreed to issue new shares.

"It's an endorsement of what we've done at the club," Mark Palios told BBC Radio Merseyside. "They understand the ethics of what we're trying to achieve, in terms of a community based club, and they're very much behind that.

"They have a minority stake so we'll run the business on a day-to-day basis. The initial investment they make will help us to repair some of the damage done to the balance sheet in terms of the three years we spent in non-league.

"There'll also be a small improvement in the playing budget for the next couple of years, which will help us to get stable in League One."