MK Dons taken over by Kuwait businessman

MK Dons have been taken over by a Kuwait-based consortium, ending Pete Winkelman's 21-year spell as owner.

Winkelman oversaw the club's renaming in 2004 and promotion up to the Championship before an eventual return to League Two.

The consortium will be led by businessman and entrepreneur Fahad Al Ghanim who confirmed it would make the club debt free.

The Dons, who finished fourth in League Two last season, also won the Football League Trophy in 2008 and have also been managed by bosses including Paul Ince, Roberto di Matteo, Karl Robinson and Russell Martin.

"What has become clear to me in recent years is that while I am so proud of Stadium MK and the sustainable business we’ve created, it can only support the development of the club to a certain level," Winkelman said.

"It is, therefore, time for me to step aside and put the custodianship of the club and the wider business into new hands."

Al Ghanim, whose family own Kuwait Premier League champions Kuwait SC, said: "Our first focus will be on strengthening the first team squad to give the club the best chance of promotion this season.

"I fully believe the team are in a great place, I’m not looking to disrupt the fantastic work done over the summer, if anything, I want to add to it."