Fans take over Stirling Albion
Posted by Alan | Under Football Business Saturday Jul 3, 2010
Owner of Stirling Albion, Peter McKenzie, stated that he is thrilled to offer the supporters the task of running the club after an agreement was reached on a groundbreaking takeover.
The Binos are now owned by the ‘Supporters’ Trust thus making history as the first senior football club in the UK to be owned 100% by the community.
McKenzie reached a principal agreement with Supporters Trust that will allow the Trust to take immediate control of the day-to-day activities subject to the finalization of legal formalities.
The deal value which is a settlement of a one off cash payment to McKenzie at about £300,000 and a settlement of debts also includes the agreement that a £1.2m loan from the previous owner will be written off.
The chairman announced that he is glad that true fans will now be responsible for the club’s future and that although there were various offers on the table for the club he is glad to see it go to the local community.
Paul Goodwin, the ‘Buy Stirling Albion spokesperson, stated that he is also thrilled at the news and stated that throughout all of the negotiations McKenzie kept the wellbeing of the club and community in mind and since those are the central points of the trust they are glad to see the finished result.
Goodwin continued to say that the acquisition has the potential to change the way that people view Scottish football within communities.
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