Northampton_Loyalist
Well-Known Member
C1872, or AN other, open up a pledge system whereby 20000 people have the opportunity to buy £750 worth of shares (66 million, divided by 20000 people equals 3300 shares each, at 20p each equals £660. Obviously you would want more to cover fees and set up a slush fund etc), in their own name, with the rights and privileges of those shares being proxied to C1872 for a set length of time (5 years seems reasonable). every member is given 3 years to physically pay the money in the manner they see fit. if, after 2 years, uptake is low, the remaining shares of the 20000 are opened up to the current people who have taken up the offer. A maximum of 3 will be allowed for voting purposes, but potentially no limit would need to be placed on the number of 'C1872 shares' an individual could hold. On the set date, the shares are transferred to the individuals, their proxy to C1872 and the money to David King.
An ongoing membership fee of perhaps £25 a season/year would be levied to allow for ongoing running/operational costs and to allow projects to be carried out (£500k or so).
20000 people all receive their own share certs, their own wee piece of the club and a unique C1872 number that allows them an equal vote on matters to do with the block vote now created on behalf of the support. They are invested in C1872 as a vehicle, have a direct say in the running of the club (up to a point, clearly) and have control over their own investment.
People would not be beholden to C1872 and after their term would be able to remove themselves and their investment if they felt it was not working.
You are FAR more likely to get people to part with their money if they are not literally waving it goodbye at the point of departure and if they are allowed to do things like pass it down directly to their kids.
If the shareholding is diluted, individuals will be able to buy more shares to maintain their personal holding, or not. C1872 would be able to lobby members for funds in order to make loans to the club, would be able to invite other shareholders to join if it made sense in terms of percentage ownership and while they would need to be careful of the 'interested party' issues King himself had, maintaining a legal and significant holding would be possible.
Clearly made up as I have gone along there, but if buying from King is the way forwards, there are probably better ways of getting it to work than announcing it is happening and asking for other peoples millions to buy shares not in their name.
An ongoing membership fee of perhaps £25 a season/year would be levied to allow for ongoing running/operational costs and to allow projects to be carried out (£500k or so).
20000 people all receive their own share certs, their own wee piece of the club and a unique C1872 number that allows them an equal vote on matters to do with the block vote now created on behalf of the support. They are invested in C1872 as a vehicle, have a direct say in the running of the club (up to a point, clearly) and have control over their own investment.
People would not be beholden to C1872 and after their term would be able to remove themselves and their investment if they felt it was not working.
You are FAR more likely to get people to part with their money if they are not literally waving it goodbye at the point of departure and if they are allowed to do things like pass it down directly to their kids.
If the shareholding is diluted, individuals will be able to buy more shares to maintain their personal holding, or not. C1872 would be able to lobby members for funds in order to make loans to the club, would be able to invite other shareholders to join if it made sense in terms of percentage ownership and while they would need to be careful of the 'interested party' issues King himself had, maintaining a legal and significant holding would be possible.
Clearly made up as I have gone along there, but if buying from King is the way forwards, there are probably better ways of getting it to work than announcing it is happening and asking for other peoples millions to buy shares not in their name.