Fans To Buy Out Club In English Football First

For the first time in English football a professional club is set to be taken over by its fans after community website MyFootballClub agreed a deal to buy out Blue Square Premier team Ebbsfleet United.

The 20,000 MyFootballClub members have each paid £35 to provide a £700,000 takeover pot through which they will all own an equal share in the club.

The landmark move will see the members given voting rights as a collective board including on issues such as transfers, player selection and all major decisions.

‘We are united in believing this is a great opportunity,’ Ebbsfleet chairman Jason Botley. ‘This extra finance and support will enable our club to progress.’

The deal is expected to be completed in a few weeks after a due diligence process and the website will purchase a 51% controlling stake, while also having the option to buy the club outright in the future.

Since the website’s launch in April, 50,000 members have signed up, with 20,000 of those paying the registration fee.

The membership subscription is paid annually so new members can join and become owners at any time, adding to the club’s finances.

MyFootballClub was approached by nine clubs and looked into seven of those before opting to take over Ebbsfleet.

The Financial Services Authority has approved the setting up of the MyFootballClub Trust to safeguard members’ interests in the eventuality of the club running into financial difficulties.

Ebbsfleet was formerly Gravesend and Northfleet but the club’s name was changed in May in a bid to tap into the regeneration of the area.

They are currently ninth in the Blue Square Premier, six points off a play-off place for entry to the Football League.