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Author Topic: Trust look to buy the CG  (Read 322337 times)
kaufman

« Reply #1230 on: Monday, February 6, 2023, 17:37:32 »

I seem to remember that we will still pay 'rent' to an account but this will be used for upkeep of the stadium. Essentially a savings account I guess and one that would of course give us interest.
That's how I took it to mean.
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« Reply #1231 on: Monday, February 6, 2023, 17:41:45 »

OK...sounds remarkably sensible...
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MangoRed

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« Reply #1232 on: Monday, February 6, 2023, 17:44:59 »

The Nigel Eady CG.

Thank fuck power never found a way to get his hands on this money.
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joeydubya

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« Reply #1233 on: Friday, February 10, 2023, 13:46:26 »

Rental goes to the Joint Venture doesn't it? So even at 50%, let's say £150,000 (as an example) can go to maintaining and improving the ground rather than £300,000 going to SBC for Shrug
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« Reply #1234 on: Wednesday, March 22, 2023, 22:07:18 »

https://twitter.com/TrustSTFC/status/1638646733172273161

Announcement on how to own a share in the ground, ish - seems like they can't do the actual share in the ground that was mooted, more a vote in the Trust, which isn't far off the same thing. £19.69 to do so.
« Last Edit: Wednesday, March 22, 2023, 22:09:38 by Nemo » Logged
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« Reply #1235 on: Wednesday, March 22, 2023, 22:37:54 »

https://twitter.com/TrustSTFC/status/1638646733172273161

Announcement on how to own a share in the ground, ish - seems like they can't do the actual share in the ground that was mooted, more a vote in the Trust, which isn't far off the same thing. £19.69 to do so.

Hope there is an option to round up to £20, OCD about these kind of things!
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« Reply #1236 on: Wednesday, March 22, 2023, 23:05:29 »

Hope there is an option to round up to £20, OCD about these kind of things!

Yeah but we didnít win the League Cup in 2000 did we!
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Bob's Orange
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« Reply #1237 on: Wednesday, March 22, 2023, 23:07:29 »

Yeah but we didnít win the League Cup in 2000 did we!

Beggers can't be choosers.

Edit - its irrelevant anyways as I'm already technically a 'shareholder'

Every current member of TrustSTFC that pays in on a monthly basis already holds a voting share, and with that participates in the ownership and will have a say on future proposals related to the County Ground.
« Last Edit: Wednesday, March 22, 2023, 23:11:47 by Bob's Orange » Logged

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« Reply #1238 on: Thursday, March 23, 2023, 09:49:03 »

Okay, so having read through the details, there are two things:

1) The County Ground Community Fund which is essentially the rebranded Red Army Fund, but for ground improvements. A bank account that people are being asked to give a monthly amount to, which can only be used for improving the CG and surrounding areas. Monthly or one-off donations. https://truststfc.com/county-ground-community-fund/

2) The 'Voting Share' scheme which is £19.69 per year (direct debit), essentially to join the Trust and become a voting member of the Trust, which then in turns owns 50% of the CG. You will not own any of the CG. One person, one share, one vote. Over 16s only, U16s can join for £5 but can't vote.

If I'm absolutely honest, the voting share scheme feels a bit of a let down, it's just rebadged Trust membership and a vote on the CG business plan each year. I'll still do it, but it doesn't seem on the face of it as powerful as the Chelsea Pitch Owners or something like that. But the big picture here is still super positive.

One thing I'm not quite clear on is the status of existing Trust membership Direct Debits - is it the first £19.69 per year goes towards the Voting Share (running the Trust) and then anything over than above that goes to the CG Community Fund? I imagine that will be clarified.

Edit: Someone had already asked that question on Twitter, and it is as expected, first £19.69 to the voting share (Trust funds) and anything above that to the CGCF.
« Last Edit: Thursday, March 23, 2023, 09:52:37 by Nemo » Logged
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« Reply #1239 on: Thursday, March 23, 2023, 10:51:47 »

So as I already have trust membership I don't have to do anything. Something I'm excelling at recently.
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« Reply #1240 on: Thursday, March 23, 2023, 11:25:00 »

I only pay a quid a month, yet still get a share (of nothing, I thought it was going to be a couple of bricks of the actual ground) - seems wrong
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« Reply #1241 on: Thursday, March 23, 2023, 11:33:15 »

I only pay a quid a month, yet still get a share (of nothing, I thought it was going to be a couple of bricks of the actual ground) - seems wrong

Hmm, that's not quite my reading of the Twitter Q&A they've answered so far, they've generally said "if you give at least £19.69 a year" which is about £1.64 per month. Definitely one to get clarified.
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« Reply #1242 on: Thursday, March 23, 2023, 11:48:39 »

Hmm, that's not quite my reading of the Twitter Q&A they've answered so far, they've generally said "if you give at least £19.69 a year" which is about £1.64 per month. Definitely one to get clarified.

I only pay a quid a month as well and the email I got last night notes;

'As you are an existing Trust member, you do not need to do anything! You already own a voting share and have been assigned a digital certificate to confirm this (it will be sent to you by email in the next few days).'
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« Reply #1243 on: Thursday, March 23, 2023, 12:16:03 »

For the layperson, who on the Trust side will actually 'own' their 50% share? Only existing members?
Seems a shame not to allow more fans to actually own anything other than a vote, or at least that's how I'm reading it.
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« Reply #1244 on: Thursday, March 23, 2023, 12:20:35 »

For the layperson, who on the Trust side will actually 'own' their 50% share? Only existing members?
Seems a shame not to allow more fans to actually own anything other than a vote, or at least that's how I'm reading it.

The Trust as an entity owns 50% of the stadium. The "voting share" is essentially a rebranding of Trust membership, you don't actually own the stadium any more than you own the Trust itself, but you do get voting rights in the organisation.

There will be legal and structural reasons why the actual mechanism is this way. Initially it's a bit disappointing for individual fans not to own part of the actual stadium, but I think the net effect is about the same: if individual fans wanted to, they could join the Trust, stand as a candidate for the board and change the direction/policy that way if there were enough of them that felt a particular way.
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