The new owners of Richmond’s professional soccer club are looking to net seven figures in new cash as their regime begins.
22 Holdings LLC, a group led by Richmonder Rob Ukrop that recently purchased a majority stake of the Richmond Kickers Pro Team, is raising $2.2 million in equity funding, according to a SEC document.
Ukrop’s group, which includes several of his former teammates from his days playing soccer at Davidson College, closed on the acquisition of the pro team in recent weeks, buying it from the Richmond Kickers Youth Soccer Club.
The deal first was announced in December. The purchase price has not been disclosed. The nonprofit youth club retains a minority share in the pro team, which is a for-profit business.
Ukrop declined to comment on the capital raise, which has brought in $970,000 from five investors, with the first sale occurring April 3.
The ownership group includes Matt Spear, who played with Ukrop in college and is now the pro team’s president. Spear was Davidson’s men’s soccer coach the last 18 years.
Ukrop was formerly president of the youth club’s board of directors and is now the pro team’s chairman.
The Kickers’ season started in late March. Three games in, the team is ranked eighth out of 10 in USL League One, with two losses and a draw.
The team plays at City Stadium as part of a 40-year lease with the city. Signed in 2016, that deal included the team agreeing to spend $20 million to upgrade the 90-year-old facility. Shortly after, the club signed a local TV deal with CBS6.