Club Underdog, a subsidiary of North Sixth Group, has reached an agreement in principle to acquire Dagenham & Redbridge.

The club was previously owned by a group led by New York Yankees minority owner Peter Freund.

He said: “We received an overwhelming amount of interest in purchasing the Daggers, but it was critical to us that we chose a partner who had the operating track record of promotion and vision to help this club reach its potential.

“It has been an absolute privilege to be at the helm of this club which has become family for me and my partners over the past six years. We are confident the club is in great hands under North Sixth Group, and fans can expect a successful, sustainable and enjoyable product for years to come.”

Under its Club Underdog subsidiary, North Sixth Group has a successful track record achieving sporting and business results for lower-tier clubs with rich tradition in strategic locations with high upside potential.

In 2024, North Sixth Group became one of the first foreign ownership groups in history to achieve back-to-back promotions with Italian football club Campobasso FC.

Campobasso FC was in the fifth tier of Italian football when North Sixth Group acquired the club in 2022, and in its first two years of ownership, won consecutive league championships for the first time in the club’s 105-year history.

The group also owns Brooklyn Football Club, the first professional men’s and women’s expansion football franchise in the history of the Borough of Brooklyn, and one of the most exciting football ventures in the United States ahead of the 2026 World Cup.

Partners in the ownership group include visionary entrepreneur Morgan Harris, media and sports expert Matt Rizzetta, and private equity industry veteran Daniel Hall, who is a native of England and was born near the East London home of the Daggers.

“This is a sort of homecoming for me personally, having been born and raised not far from the Daggers ground,” said Hall, Partner of North Sixth Group’s sports ownership subsidiary Club Underdog.

“We believe the Daggers have all the right ingredients to become a fixture in the higher tiers of English football in the future, and we will do everything we can to build our vision step by step as we have done with our other clubs.

"We can guarantee hard work, innovation and a relentless dedication to bringing fans of the Daggers what they deserve in the years ahead.”

Following a 15th- placed finish in the National League table in 2023-24, fans of the Daggers are excited about the 2024-25 campaign, which commences in August.

“It is a true honour and privilege to bring the Daggers into this next chapter,” said Rizzetta, Founding Partner and Chairman of North Sixth Group.

"We would like to thank Peter and his group for this opportunity. We believe we can build something truly special for the Daggers by following the same values of humility and innovation that have enabled us to be successful in Italy, Brooklyn and other markets.

"We are energized about the opportunity to create a winning product and to turn the Daggers into a source of pride for everyone who can identify with the underdog spirit that makes East London a special place.”

Representing North Sixth Group on the transaction were Simone Calzolai in the United Kingdom and Dave Barry in the United States. Investment banker and global football expert Laurie Pinto of Pinto Capital advised on the transaction.

Closing of the transaction is expected to occur prior to the opening of the 2024-25 National League season and remains subject to standard approvals from sporting and regulatory bodies.