At our August 14th members meeting Mr Dickens told members that following the anticipated share issue no one individual would be allowed to own more than 10% of equity in the club.
His position was reported in the Leader as follows ;
He warned one person or company gaining a larger shareholding could see the return of financial uncertainty at the club.Mr Dickens said: We do not want things to go down the road they have in the past, so we want to safeguard against that.
However in response to a members question on Monday night Mr Dickens refused to rule out a sale of the club to an individual buyer. It would appear from his current position that the 10% limit no longer applies and that the club is now available at a price. This new approach is a contradiction to everything that the consortium has previously told us about their strategy for the club. We also fail to see where this policy will safeguard the future of the club.
Given our recent history the WST is totally opposed to ownership of the club being vested in one individual. We can see no secure future for the club until ownership is spread amongst the many and that must include a large element of community ownership. We would urge Mr Dickens and Mr Moss to reconsider this strategy and to consider the long-term affect that this would have on our club.
We have provisionally arranged a meeting with the clubs directors for next Friday and will update our members following that meeting.
See you all at Darlington!