Gillingham: Brad Galinson completes takeover after buying majority stake
- Published
Paul Scally, who took over Gillingham in 1995, had been the second longest-serving owner in the EFL after Middlesbrough's Steve Gibson
American businessman Brad Galinson has completed his takeover of Gillingham, buying a majority stake in the club.
The Florida-based property magnate had been linked with a takeover of League Two's bottom side for several months.
The Gills has been owned by Paul Scally since 1995 and he will keep a minority shareholding in the club, which played in the Championship from 2000 to 2005.
"This is a monumental, exciting and historical time in our club's long history," Scally said.
A said: "Gillingham Football Club, after a long, collaborative due diligence process, can today confirm that Brad Galinson has acquired a majority shareholding in GFC Holdings and Gillingham Football Club Ltd."
Galinson said: "Paul Scally has done an excellent job over the last 27 years and we hope with our involvement the club will move forward. A bright future with, hopefully, more goals and a lucrative transfer window are on the horizon."
In August, Scally said he was taking a step back from the day-to-day running of the club due to abuse he had suffered from fans.
It has been a year since Scally said he was in talks with parties interested in investing in the club.
On the field, Neil Harris' side have struggled for goals, scoring only six times and winning two of their 20 league games so far to leave them in the relegation zone.
In Scally's 27 years as Gillingham owner they won four promotions and made three play-off finals, and spent five seasons in the Championship from 2000.
The Gills were relegated from League One on the final day of last season.