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.

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