Sunday, 16 November 2008 20:27

Trust to Back Club With £50k Investment

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Trust to Back Club With £50k Investment

Fans of high flying Kidderminster Harriers are raising £50k through their Supporters Trusts Loan Note scheme in order to invest in the Worcestershire club.

Responding to the Club Chairmans appeal for investors to step forward, the Kidderminster Harriers Independent Supporters Trust has already raised £40,000 towards the £50k target which will also see the fans receive board representation.    

Harriers Chairman Barry Norgrove recently outlined the financial problems faced by the Aggborough club.

"If we can't afford to put money in and get more people to help, we will have to make cuts. We have to keep Kidderminster Harriers running. That's the main thing.

Mr Norgrove runs a building company that has been badly affected by the current credit crunch and explained further.
 "I cannot help the club as much as I would like to, I'm looking for investors to come onto the board, or to come into the club in some shape or form and help me."

The Trust would acquire 100,000 shares as part of the deal to add to the 26,000 shares that they already own. Under the terms of the loan note scheme the money raised will only be used to buy shares in the football club.

The Trust Treasurer Steve Millington stated.

Moneys tight for people at the moment, but hopefully well have raised £50k by Christmas.

The Wrexham Supporters Trust has run its own Loan Notes Scheme for several years and now has C£30K in the pot.

Details of the scheme can be found Here