Archive for tag: Fan Buyout Schemes.

Fan buy-out schemes make a comeback.

October 4th, 2009 | 8 Comments |

Derek Llambias
Llambias: no. NUST: Yes We Can
Ever since Mike Ashley first put Newcastle United up for sale there have been rumours of various fan buy-out schemes for the club. The latest of them was probably that Graham Roberts nonsense, which I took a particular dislike to and refused to waste electrons on. However, it seems that the results of the Keegan tribunal have prompted a second stream of enthusiasm for these schemes.

The Newcastle United Supporters Trust is launching on Wednesday 7th October at the Newcastle Civic Centre and it claims to have £20m in pledges with which it hopes to buy a stake in the club.

The NUST is also backing the ‘Yes We Can’ campaign, which has the support of City financial institutions and has used new pensions legislation to entice 483 x £20,000 of investment (nearly £10m) and has a further 202 members committed to signing up.

Neil Mitchell, Chair of NUST, said:

Realistically, we’re looking to buy a stake in the club, though we don’t think buying it outright is unrealistic in the long term. With the takeovers at an impasse, we’re looking to raise funds to help a new buyer. We want to give supporters a voice, something they’ve not had in the past.” (more…)