Chandler - answers to points raised
Am I right in thinking that it owns about 5% of New Fox PLC? And am I also right in thinking that it raised most of the cash for its shareholding over a few months?
- We own just over 2% of the shares. Yes the first £100k was raised in a few months, with a further £30k invested over the following summer.
If both these points are true why doesn't the FT have a long term plan to become a major player in the club? The idea is not as crazy as it sounds.
- We do intend to make further investments in the club, trouble is we have struggled to raise even £20k in the last year
If you could buy around 5% (?) of the shares with just a few months fund raising how about trying to buy say between 0.5 - 1.0% per year over the next 20-30 years?
- As per above it is highly unlikely we would raise that level of cash unless many more City fans become members year on year & some local businesses provide sponsorship to cover costs (if you have any suggested companies you think would be worth approaching e-mail
[email protected])
If the FT went about this in a sensible and public way you might find much good will amongst exisitng shareholders and public benefactors. Private individuals might pledge/bequeath shares to the FT. You might get donations on top.
- There are only 40 shareholders in total,. it is likely most of them will pass their holding on to their children. We would certainly appreciate donations and would welcome any suggestions that would encourage this to happen
What about this for a prospect in 30 years time - the only professional football club to be owned and run by its supporters.
- Around 6 Trusts already run professional clubs in England at this time, the FT objectives do not include trying to run the club itself, although we remain keen to have a fully fledged Non Exec role on the board.