You can own a share of your team
Posted by Alan | Under Football Business Saturday Apr 10, 2010
Sport fans have welcomed a government scheme possibility that would require clubs to offer supporters the chance to buy into up to 25% of the club, but opposition parties have called the proposals a ‘gimmick’ and a ‘pipe dream’ that will never see the light of day.
The Labour Party is preparing to add measures into their General election manifesto that will allow their supporters to have a larger say in how clubs are managed including the ability to launch a takeover bid if a club falls into administration or is placed up for sale.
Although the details behind the proposals are yet to be seen, any Governmental attempt to force clubs into allowing supporters to purchase stakes will raise practical and legal issues that could impact on insolvency and company laws.
However, supporters back the issue as Chairman of the Football Supporters Federation Malcolm Clarke stated that it is about time that the government recognizes the key value of the issue. He continued to say that football clubs are not like other businesses but are a major staple in a community.
Chief executive of the Manchester United Supporters Trust, Duncan Drasdo, stated that it is a large step forward which is what they have been actively lobbying for. He continued to say that there are many public interest areas where the government intervenes and there is an ample public interest in football clubs.
However, shadow sports minister, Hugh Robertson, stated that the move is just a pre-election gimmick that will never happen.
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