Wednesday, November 14, 2007
Website agrees Ebbsfleet takeover
Fans' community website MyFootballClub has agreed a deal to take over Blue Square Premier outfit Ebbsfleet United.
The 20,000 MyFootballClub members have each paid £35 to provide a £700,000 takeover pot and they will all own an equal share in the club.
Members will have a vote on transfers as well as player selection and all major decisions.
The deal is expected to be completed in a few weeks after a due diligence process and the website will purchase a 51% controlling stake, while also having the option to buy the club outright in the future.
The takeover is a landmark for English football, given the website's stated intention of involving the members so radically in the running of the club, particularly with team selection.
The 20,000 MyFootballClub members have each paid £35 to provide a £700,000 takeover pot and they will all own an equal share in the club.
Members will have a vote on transfers as well as player selection and all major decisions.
The deal is expected to be completed in a few weeks after a due diligence process and the website will purchase a 51% controlling stake, while also having the option to buy the club outright in the future.
The takeover is a landmark for English football, given the website's stated intention of involving the members so radically in the running of the club, particularly with team selection.
