Bangor City Football Club Supporters Association (BCFCSA) have called an Extraordinary General Meeting (EGM) next month at which they will consider starting a new football club.
The Supporters Association will also consider the option of continuing as an independent body supporting the club and the possible incorporation as a Community Benefit Society (CBS) also know as Football Trust.
Bangor City have faced numerous problems over the last twelve months which has caused increasing tension between the club owners Vaughan Sports Management (VSM) and the supporters. Off-field problems have seen the club relegated from the Welsh Premier League due to financial reasons, resignation of the club’s auditors, unpaid utility bills resulting in the stadium being closed and debts of over £100,000.
The meeting will be held on 10 April and a representative from Supporters Direct will be attending to help the BCFCSA to move forward and meet the challenges of the future, should they decide to start a new club.
What is a CBS or Supporters’ Trust
- Registered with the Financial Conduct Authority
- It exists for the benefit of the community
- It’s not for profit so any money reinvested to meet objects or kept as reserves
- It is one member, one vote society
- Is has a majority elected board
- Members pay an affordable annual membership fee
- There is limited liability for members, providing shareholder protection like that of companies
- There is the ability to raise money in a cost-effective way through community shares if necessary.
- This model is used by 200 other groups all with similar aims, with various protections, and additional policies available
- There is the Flexibility to either be a supporters’ organisation or a vehicle to own and run a club
The EGM is not an open meetings, therefore only BCFCSA members are permitted to attend and vote. If you would like to attend the EGM, but have been unable to become a member, you can send a e-mail to email@example.com by Friday 5th April and the BCFCSA will send you a membership application form.
E-mail applications between Saturday 6th April and Wednesday 10th April will not be accepted. Any application submitted during this period will be accepted on Thursday 11th April.
BCFCSA Extraordinary General Meeting
Date – 10th April 2019
Venue – Penrhyn Hall, Bangor
Time – 6:30pm
Matters to be discussed:
- The incorporation of BCFCSA as a CBS
- Considering the future. At this point there are two options: (a). Continue as an independent body; (b). Consider starting a new football club.