What's behind Brentford's organisation restructure?
Brentford announced a change to the ownership structure earlier this week, with Matthew Benham transferring his shares into a new holding company.
It was said this will "modernise" the ownership model as it will "provide greater flexibility" and "better position the club for future growth".
Benham is the crucial figurehead behind Brentford's success since achieving promotion to the Premier League in 2021.
From conversations with sources behind the scenes, the need to "modernise" refers to a holding company, which is common at the highest level of football and aligns the club with the rest of the Premier League.
The need to provide "greater flexibility" is understood to refer to estate planning - as Benham could pass shares to his family.
And Brentford have been open about the hunt for minority investment to chase "future growth". The new structure would make the addition of a new partner simpler to achieve.
Those with knowledge of the situation have explained that such is the success of Benham's ownership, that they believe any new investors would be likely to want to keep on the current owner to avoid disrupting the success of his data-guided approach.
On a football and performance level, Brentford do not especially need expertise from an investor but would be attracted to a partner capable of promoting the business and boasting media or public relations expertise.
Sources that know Benham believe the scale of the reported £400m valuation and hunt for an investor is simply the Englishman testing the market - similar to an individual putting their house up for sale at a high price just to see if there is any interest.
The intention is not to sell a majority stake, but it is impossible to rule out because an incredible offer could always arise.
Meanwhile, a deed has been given to supporter group Bees United to allow a veto on any sale of the club's stadium and a fan to be appointed to the board.
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