News: ASD MD becomes Rotherham United's largest shareholder
Tony Stewart OBE, has ceased to be the largest share owner in the holding company that sits above ASD Lighting and Rotherham United.
The founder of the lighting business, and saviour of the football club, has transferred his shareholding to his son.
Richard Stewart, managing director of ASD and vice chairman at Rotherham United has seen his shareholding in ASD Lighting Holdings Ltd increase from 5% to 100%.
In an update, the League One club said that Richard Stewart "therefore indirectly holds 97.06% of the shares in Rotherham United Football Club.
"These changes are administrative in nature and ensure a clear ownership structure for the Club going forward.
"A. R. [Tony] Stewart will remain Chairman of Rotherham United Football Club, while R. P. Stewart will continue as Vice Chairman. Both remain fully committed to the Club and its long-term future.
"All of the aforementioned changes will be reflected on HMRC’s Companies House.
"The Board would like to thank supporters for their continued backing as the Club moves forward with a strengthened financial position and a clear ownership structure."
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The club also announced that it had completed a rights issue which has converted £550,005 of existing debt into equity. The update added: "This strengthens the Club’s balance sheet and reflects the continued commitment of the Club’s ownership to supporting Rotherham United’s long-term financial stability."
Many EFL clubs convert existing debt into equity to stabilise balance sheets and comply with Profitability and Sustainability rules.
Rothbiz reported at the start of the year that the latest accounts of fellow subsidiary ASD Lighting PLC had "included within debtors was £9,467,811 (2024: £5,204,737) due from Rotherham United Football Club (RUFC) Limited. The outstanding balance is repayable on demand."
The figure has risen from £929,150 in 2023.
Tony Stewart, who turns 81 this year, was one of a number of business people invited to the Town Hall with the aim of finding a way of resurrecting the borough's football league club after it fell into administration for the second time in 2008. He ended up going it alone and brought them out of administration via a Creditors Voluntary Agreement (CVA).
After the takeover came the decision to play home games at the now demolished Don Valley Stadium in Sheffield, after working hard to get a deal to carry on playing at Millmoor, the club's home for over 100 years.
The club was charged with returning to play home games in its home town within four seasons by the Football League and Stewart, with the backing of his directors at ASD and the club, threw his drive, energy, business sense and money into creating the £20m New York Stadium on the edge of Rotherham town centre.
The iconic stadium hosted its first game in July 2012 and under Tony's tenure the club has enjoyed promotions, Play-off final victories and cup wins at Wembley Stadium, plus a number of relegations, in a period of sensible financial management not always replicated across the league.
ASD Lighting website
RUFC website
Images: RUFC
The founder of the lighting business, and saviour of the football club, has transferred his shareholding to his son.
Richard Stewart, managing director of ASD and vice chairman at Rotherham United has seen his shareholding in ASD Lighting Holdings Ltd increase from 5% to 100%.
In an update, the League One club said that Richard Stewart "therefore indirectly holds 97.06% of the shares in Rotherham United Football Club.
"These changes are administrative in nature and ensure a clear ownership structure for the Club going forward.
"A. R. [Tony] Stewart will remain Chairman of Rotherham United Football Club, while R. P. Stewart will continue as Vice Chairman. Both remain fully committed to the Club and its long-term future.
"All of the aforementioned changes will be reflected on HMRC’s Companies House.
"The Board would like to thank supporters for their continued backing as the Club moves forward with a strengthened financial position and a clear ownership structure."
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The club also announced that it had completed a rights issue which has converted £550,005 of existing debt into equity. The update added: "This strengthens the Club’s balance sheet and reflects the continued commitment of the Club’s ownership to supporting Rotherham United’s long-term financial stability."
Many EFL clubs convert existing debt into equity to stabilise balance sheets and comply with Profitability and Sustainability rules.
Rothbiz reported at the start of the year that the latest accounts of fellow subsidiary ASD Lighting PLC had "included within debtors was £9,467,811 (2024: £5,204,737) due from Rotherham United Football Club (RUFC) Limited. The outstanding balance is repayable on demand."
The figure has risen from £929,150 in 2023.
After the takeover came the decision to play home games at the now demolished Don Valley Stadium in Sheffield, after working hard to get a deal to carry on playing at Millmoor, the club's home for over 100 years.
The club was charged with returning to play home games in its home town within four seasons by the Football League and Stewart, with the backing of his directors at ASD and the club, threw his drive, energy, business sense and money into creating the £20m New York Stadium on the edge of Rotherham town centre.
The iconic stadium hosted its first game in July 2012 and under Tony's tenure the club has enjoyed promotions, Play-off final victories and cup wins at Wembley Stadium, plus a number of relegations, in a period of sensible financial management not always replicated across the league.
ASD Lighting website
RUFC website
Images: RUFC
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