Questions remain over Quakers' future (From The Northern Echo)
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Questions remain over Quakers' future
10:21am Thursday 2nd February 2012 in News
DEAL OFF: Paul Wildes withdrew his interest in buying the club after failing to reach an agreement with outgoing chairman Raj Singh
Joe Willis looks at what the future may hold for a community-owned club.
Why did Paul Wildes walk away?
Sheffield businessman Paul Wildes withdrew his interest in buying the club after failing to reach agreement with outgoing chairman Raj Singh regarding compensation for the investment Mr Singh had put into the club.
What happened yesterday afternoon?
After the deal collapsed, members of Darlington Football Club Rescue Group held emergency talks with administrator Harvey Madden.
What was agreed?
Mr Madden gave the fans and businessmen who make up the rescue group time to form a community group to run the club.
What about Mr Singh?
Members of the rescue group said last night that they had the support of the former chairman. It is not yet known if Mr Singh has agreed to waive his £2m loan to the club.
Who is behind the community club?
The community club is being launched by fans and businessmen who came together under the banner of Darlington Football Club Rescue Group. Although the public faces are Shaun Campbell and Doug Embleton, those behind the scenes include Mark Meynell, the leader of a previous consortium that tried to buy the Quakers, former chairman Steve Weeks and former Darlington Supporters’ Trust chairmen Pete Ashmore.
How much will fans have to raise to take over the club?
No figures have been revealed yet. However, the amount will depend on how much fans have already contributed and how much was raised at the two recent home games.
How long has the group got to put together a plan?
Mr Campbell said last night that administrator Harvey Madden had given the club a “couple of weeks” to put together the foundations of the community club.
Where will the club play?
The club will continue to play at The Northern Echo Arena for the rest of this season at least.
What are the benefits of a community-led football club?
The ongoing problems of funding football in the lower leagues has seen several football clubs, notably Stenhousemuir FC, in Scotland, and Eastbourne Borough, of the Blue Square Premier, become a community interest company (CIC).
A CIC is a limited company with safeguards built in for the use of people who want to conduct a business for the benefit of the community and not purely for private advantage.
An “asset lock” ensures that the assets and profits are largely dedicated to keeping the club going and, wherever possible, improving it.
In the case of Eastbourne Borough, a charity owns more than half of the issued share capital. Supporters, the public and businesses are able to invest by purchasing Ordinary Shares.
The Eastbourne CIC has diversified beyond football. The club’s Priory Lane ground hosts an archery group, an impressive indoor bowls hall, Tai Chi classes, a study centre, creche and twice-weekly afternoon clubs for pensioners.
In addition to the first team, there are reserve and ladies teams and a juniors club with more than 400 members.
