After many months of negotiation with the new owners of the football club, SFU are delighted to inform you that we are now in a position to increase our shareholding in Mansfield Town Football Club Limited. We will be holding our AGM on Tuesday 1st September at Field Mill at 7.30pm, to seek our members' approval to proceed with the Share Agreement and to carry out other business as outlined in our Notice of AGM.
Full statement:
Stags Fans United will be meeting with its members on Tuesday 1st September at its AGM to finalise an agreement brokered with the Football Club.
The Trust, formally known as TEAM Mansfield, will be purchasing a further 5.5% stake at Mansfield Town with an investment of £55,000, to add to the 3.3% stake they already own. The Trust has also been invited to have a Non Executive Supporter Director join the board at the club.
The £55,000 investment has been raised by supporter’s donations, through fund raising events and a £15,000 donation from the Stags Supporters Association and follows lengthy but successful negotiations with the clubs owners.
The members of the Trust now need to decide if they approve of the agreement going ahead and they are being encouraged to attend the very important meeting on 1st September 2009 at Field Mill, where they will be able to discuss the new share agreement with the Trust’s board and there will be a forum with the new owners immediately after the AGM.
This new agreement has been discussed over quite a period of time, and is the latest step in the much improved relations between club and supporter. Over the last 13 months the club has seen much greater openness, a much higher level of corporate governance than we have known previously, and a real willingness by the owners to engage with every single supporter involved with Field Mill and the agreement reached reflects the new owners' and the Trust's attempts to move on from the previous decade.
Read more here in the letter to our members
Read more here in the Notice of the SFU AGM
Copy of shareholders agreement here
Will Lord, vice-chairman of SFU, talks to BBC Radio Nottingham, 17 Aug 09. Listen here.
