The Richardsons have bought a stake in Ranks, the casino and bingo operater. The share price of Rank has decreased over the past year and so the Richardsons decided to take a 9.3% stake which has cost them £40M.
The Richardsons own the lease to Edgar Street and are in talks with Hereford United to re-develope the Meadow and Blackfriars Ends of the ground.
"The (Rank) assets are undervalued and we have got in at a good level. These casino licences are valuable - there are not many more of them likely to be around," said Lee Richardson.
Rank has 45 casino licences - it runs Grosvenor Casinos and the Mecca bingo chain.
The Richardson family is listed in The Birmingham Post-produced Midlands Rich List as being worth £400 million. It is headed by 77 year old Roy Richardson - twin brother Don died earlier this year - but largely run by his sons Lee, Martyn and Carl.
"We are tough but fair, we are the sort of partners people want," said Richardson.
The Richardsons are the main party to whom Hereford United are in debt to the tune of around £1M.
Text at top (next game etc)
Next Game: Scarborough In The League At Edgar Street On Tuesday 19th November At 7.45pm