Following Monday’s meeting, the board of the Co-operative would like to take this chance to clarify their status and to invite all interested parties to an open meeting where we will be available to take questions on our role in the future of Nuneaton Borough.
At this point, there are a number of options still open to us, however we believe this option is the best way to secure the safety and validity of the football club in the short term.
We have invited Lee Thorn to meet with us to purchase the football club ONLY. Also present at that meeting would be an official from Supporters’ Direct who would be there to aid us, and also carry out a preliminary financial overview of the club. This offer to Lee has no expiry date, other than new owners coming in, or the club ceasing to exist. He is free to take us up on this at any time.
Upon acceptance of the terms by both us & Lee, a thorough due diligence would be entered into by SD so we completely understand the liabilities of the club.
Once that is cleared we would take ownership of the club and launch a community share order which would allow people like yourselves to buy into the club. Other revenue streams would include sponsorship, season tickets, gate receipts and so forth.
The fee for the F.C. alone is not prohibitive and Mr Thorn is well aware we can meet that.
We know many people have questions about the club and therefore our next meeting will be an open forum where we will make a brief presentation outlining any developments, before opening the floor to questions. This is your chance to find out how you can play a part. The board of the Coop are not buying the club for the Coop, this is merely a vehicle for the fans to have representation, a notion that sometimes gets overlooked.
This will take place next Wednesday, May 30th, at 7:30 pm at Coton Sports & Social Club, aka, The Lib.
All are welcome.