American businessman Ron Fowler has become the controlling shareholder of EFL League One club Lincoln City. The former executive chairman of MLB's San Diego Padres increased his stake through Liquid Investments, Inc.. The English Football League issued clearance for the change of control process on January 26, 2026.
Fowler will officially assume the role of chairman on February 4, 2026, replacing Clive Nates. He first invested in the Imps in April 2024, acquiring a 12.6 percent stake. A board meeting on December 11, 2025, approved Liquid Investments, Inc. increasing its shares to above 25 percent, making it the controlling shareholder. Fowler, who made his fortune in the US beverage industry, previously owned the San Diego Sockers indoor soccer team. He cited the "David versus Goliath" appeal of the club as a key reason for his investment.
Lincoln City currently sits second in League One. The club reported a loss of just under £2.9m for the 2024-25 season, an improvement on the previous year, with turnover reaching a club-record £8.5m. Shareholders injected £3.6m into the club during that campaign.
