Post by gazz on Dec 18, 2014 21:39:22 GMT
Stockport County supporters will inherit an initial stake in their football club next month, when they receive their first tranche of shares in the business.
Acting on behalf of the remaining shareholders, Sharron Brammall has committed to donate shares to the Stockport County Supporters' Cooperative.
It follows the creation of the Players' Fund, a unique partnership between the club, the Supporters' Cooperative and Help the Hatters. In just a matter of weeks, the new Fund has already raised £5000 to boost Alan Lord's playing budget for the current season. In return, the Brammall family has agreed to donate a number of shares – and will continue to do so for the rest of the season as more money is utilised from the Fund.
This latest significant step follows an earlier exercise undertaken by the Board of Directors to tidy up the ownership of the club, which also made new shares available, and gave new impetus to the club's off-field activities.
The Players' Fund will continue to be financed under the guidance of Help the Hatters and for every £2 pledged to the Fund, the Cooperative will receive a £1 share in Stockport County. Every pound donated is ring-fenced and goes directly into Alan Lord's budget.
The money raised so far has helped to secure a substantial basket of improvements to the squad, including contributions towards new player contracts and loan signings.
County spokesman Jon Keighren said: “We are delighted that this process is now reaching a successful conclusion, and barring any unforeseen developments, the first tranche of shares will be released to our supporters within the next six weeks, thanks to the goodwill of the Brammall family and the other shareholders.
“This is yet another crucial step in cementing the bond between this club and its magnificent, dedicated fanbase. The added investment from our supporters has made a massive difference already.
“The club made a significant loss last season, so it is important that we always spend within our means, but additional revenue, made accessible only to the manager, will always be welcomed.”
It is hoped that future share transfers can be expedited more quickly, once the legal process has been established in January.
Supporters can donate to The Players' Fund here:
Cooperative Bank
Sort Code: 08 - 92 - 99
Account No: 6951 2571
www.stockportcounty.com/news/article/club-statement-2152606.aspx