Business Advantages of Supporter Community ... - Supporters Direct

Lewes FC – Donations to SharesDuring the 2009/10 season Lewes FC got into serious financialtrouble and in January 2010 the club faced a winding up order.Although the former owners managed to pay off some of their debts,they were left with about £48,000 still outstanding.A group of six people, calling themselves Rooks125, started workingto try and take control of the club. They set up a community benefitsociety with the help of Supporters Direct and, along with a handfulof other people, managed to pay off enough of the tax bill to preventthe club from being wound up.The group then began the processDuring their first year in charge, of taking the club out of privatethey established a membership ownership, buying the club forscheme costing £1000 minimum to £1 in July 2010 and spliting thebuy a share in the society, which remaining debts between the newgenerated £100,000.entity and the old owners. The sixindividuals became the inauguralboard of Lewes Community FC Limited which bought 100% of theshares of Lewes 2000 FC Limited, which was the registered footballclub.Promoting the club as a community benefit society to localindividuals, they established a working capital fund. During their firstyear in charge, they established a membership scheme costing £1000minimum to buy a share in the society, which generated £100,000.Although not technically a donation, these contributions have in allbut name become so. From July 8th 2011 (the first anniversary oftheir takeover), membership will be open to all at a rate of £30 peryear and all shareholders – those that paid £1000 and those that willpay £30 – will have equal status on a one member, one share, onevote basis.AFC Telford United – £17,000 in Two WeeksWhen the financial troubles of Telford United became publicknowledge, the Telford United Independent Supporters’ Association(TUISA) became the focal point for many of the club’s fans as theway to help the club out of trouble.A Business Committee was established, comprising of people38 Supporters Direct Briefing Paper No.4