Fan ownership

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

What if the Trust could scare up the funds to buy the gruesome twosome 22,%  and get a place on the board

Most realistic way of getting fans involved I suspect.

[TailBetweenLegs]

Doubt they would sell that 22%.

[RobertT]

Doubt they would sell that 22%.

Which is why you press for it, get them on record.  You said you welcome fan engagement, well' we'd like to buy the 22% of shares you sold off, helping you keep your own cash and ensuring the fans have a real voice at the same time.  Over to you Clem and Co.

[Nemo]

Am I right in thinking that minority shareholdings are a bit vulnerable to being diluted via new share offerings though? Isn't that how Fitton cleaned out all the small shareholders way back when?

[Audrey]

Doubt they would sell that 22%.

Who knows what they are getting back for their 22%. Plus I doubt Clem et al would be happy with ‘outsiders’ sticking their noses into the club.

It’d have to all or nothing unfortunately.

[RobertT]

Am I right in thinking that minority shareholdings are a bit vulnerable to being diluted via new share offerings though? Isn't that how Fitton cleaned out all the small shareholders way back when?

Yes - you need the rules in the Articles and Memorandum of Association of how such event can be carried out.  You'd need to ensure the shares were indeed protected from being diluted - although, to do that, the other party would need to be in a position to buy-up the new shares.  Hence why I think the Trust should pay for expert support.

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

Doubt they would sell that 22%.

Doubt the hangers on at the club want full transparency it would bring either and wouldn't allow it to happen.

[Power to people]

What's the problem with Exeter? They appear to be doing much better than us.

They have just recently sold a majority of the club shareholding to Huw Jenkins ex Swansea owner after coming to the realization that the money that the club needed to survive was going to be tough to find, so the Trust agreed to sell and are now minority shareholders.

They have done well over the years but owning a football club is not easy, at times does require a cash injection to keep it running, yes, I'm sure stfc income is better than Exeter but still not enough at the moment to be debt free and able to wash its face freely.

[Wobbly Bob]

They have just recently sold a majority of the club shareholding to Huw Jenkins ex Swansea owner after coming to the realization that the money that the club needed to survive was going to be tough to find, so the Trust agreed to sell and are now minority shareholders.

They have done well over the years but owning a football club is not easy, at times does require a cash injection to keep it running, yes, I'm sure stfc income is better than Exeter but still not enough at the moment to be debt free and able to wash its face freely.

Newport.

[Power to people]

Newport.

Same thing applies though  

I know what I meant

[doversparkred]

Hence why going after the 22% is a goal they could aspire to.

Set-up a separate group (likely using the existing legal entity of the Trust still though) designed to focus all their attention on purchasing those shares and then managing them once transferred.  Similar to how the JV is designed to work, a person or two people, get voted onto a 'Board" which in turn operates as the conduit to the clubs actual Board.  Negotiations would be needed with Clem to get on the clubs Board and determine the % voting rights they would receive, because 22% will not deliver anything on its own.

Those who remain on the general Trust Board can then focus on whatever else is left.

The Club Share ownership rep/duo will likely then need to arrange a team to support them.

I'd also pay for someone to come onboard with the Trust to ensure they do this full belts and braces.  A Fixed Term contract for two years let's say.  Enough to manage it through to implementation and a bit beyond.

No reason why an independent working groups of fans shouldn’t start this process, and consult with the Trust and OSC. If either organisation wanted to adopt community ownership as a strategic objective (in full or part) then this group could become affiliated with them.

[Bob's Orange]

Plenty of local fans with direct experience of this, me included, who would do it for free.  A few years ago I introduced Clem to Supporters Direct (now Football Supporters Association) who helped broker the Bath City takeover, but he was still Vice Chair and had no meaningful influence at the time. Buying the 22% shares and getting a fan on the board feels like a no brainer to me. Has any fan group suggested this to the club?

So you know Clem?

[McGurk's Missus]

So you know Clem?

I read it more that they have associated with Clem in terms of referring him to SD but ''know'' him - probably not  

Cue, post containing extensive knowledge of Clem's pet cats and his obsession with farming stick insects...or something  

[Bob's Orange]

A few meetings in 2017/18 when he was vice chair - I sent him a message on LinkedIn and he called me! - but v little contact since he took over. He was very generous and listened to all my ideas, and always replies to messages. But I haven’t seen or spoken to him for ages.

Thanks. You can give Bamboo the information about Clem's pet cats now.

[McGurk's Missus]

Thanks. You can give Bamboo the information about Clem's pet cats now.

I'm more interested in the Stick Insects tbh