Soccer-Serbian billionaire-backed Sport Republic acquires Southampton

Investment firm Sport Republic, backed by Serbian billionaire Dragan Solak, has completed a takeover of Southampton by picking up an 80% stake in the club, the Premier League side said on Tuesday.

"Sport Republic are experienced investors, but also experienced within the world of elite professional sports. That combination is very hard to find, and we are thrilled to have reached an agreement that secures our short and long-term future," said Southampton Martin Semmens.