Following the historic announcement on Friday, there are bound to be some questions that members and supporters have regarding the acquisition. Below is the first part of a series of articles that look to clarify these questions for you.
1. What difference will this make to the club?
The takeover means that the supporters trust, set up to ensure the long term survival of Brentford Football Club, will be the majority shareholder.
It will allow the finances of the Club to be stabilised in the short-term whilst planning in the medium term to reduce the significant levels of debt.
The club will be owned by supporters and managed by the professional management team, implementing strategies and policies set by the board in consultation with the Bees United board as the majority shareholder.
There will also be a greater breadth of experience and expertise on the Board to assist securing Brentford FC's future as a community focussed football club.
The new board of directors will include four Bees United nominees. (Greg Dyke, Brian Burgess, Joe Bourke and one to be elected from Bees United members) and five investor representatives.
2. Who are the Investor Directors?
The club is being refinanced by a total of £5.5m in loans as follows:
Five investors will be represented on the new board of directors. These are:
- Eddie Rogers, – previous chairman
- John Herting – existing director
- PO Emanuelsson – representing Midas Way Ltd (on behalf of a supporter)
- Ian Jones – representing 7H Football
- David Heath – representing a supporter investor
These investors are a mixture of supporters, former Directors and new investors, all interested in the opportunity to help Brentford FC secure its long term future.
3. How long does this secure the club's future for?
The funding arranged should enable the club to operate for the next 12 months, during which time the BFC Board can make the necessary decisions and improve the revenue streams to allow a better future than it looked to have earlier this season.
4. Why does the 'Mystery Investor' wish to remain a mystery?
The 'mystery investor' is a long standing Brentford supporter but would like to remain anonymous for the time being and Bees United understand that and respect that.
His nominee represents Midas Way Ltd.
He has stated however that he doesn't want to stay a mystery for ever.
5. What does this really mean for the fans?
For the first time the fans can really say "This is our Club". It gives them the opportunity for them to effectively become shareholders by becoming members of Bees United and having a say in the direction the club goes forward.
It is a big opportunity and a huge challenge.
The level of debt is daunting and we will have to step up our fundraising efforts to start making a dent in it but fans will be doing this in the knowledge that the future of the club is in their hands.
6. Will fans get a regular opportunity to discuss their concerns and opinions with the new board?
There are plans for 3 'Fans Forums' during the year at which all fans will be able to ask the Board directly about any issues they may have. Bees United are also in the process of electing a representative from their members to ensure that the fans' views are considered when the Board are making decisions.
It is also hoped to encourage feedback from the fans either through Bees United, the supporter director or the club itself on a ongoing basis.
7. What is the key message that Bees United have to get across to members and supporters?
This is the start. The beginning of a number of years hard work to increase the level of fundraising, that will enable Bees United to more than cover the interest payments on the interest bearing loans, reduce the overdraft and be in a position to help fund any future re financing of the club.
The best way for supporters to do this is to increase any current Standing Order you may have, start a Standing Order for the first time or re start any lapsed Standing Order.
8. How did Greg Dyke get involved with Bees United?
Greg is a long term supporter who has regularly visited Griffin Park.. Some time ago a supporter, Mr N Marton-Falvy recognized him in a half time queue for refreshments and subsequently wrote to him at the BBC asking if he would like to become involved. Greg wrote back with an eleven word reply: Dear Mr Marton-Falvy, It depends what you mean "become part of the set up". Best wishes Greg Dyke.
This letter was passed to Brian Burgess who approached Greg, had dinner with him and kept in touch. Through recent meetings and discussions with Brian and understanding what the takeover meant for the club, Greg agreed to be the non-executive Chairman.
David Hawes
Board Member, Bees United