May 19 2009
As many of you are aware as well as a supporter (& season ticket holder) of Wasps I'm also a supporter, season ticket holder and founder shareholder of Wycombe Wanderers. The subject of founder shareholders has previously been brought up in various threads on the message board mainly in those relating to a new stadium.
The subject of founder shareholders has previously been brought up in various threads on the message board mainly in those relating to a new stadium.
Just to explain what a founder shareholder is: we are group that were either members of the football club before its conversion into a PLC or people that have since joined the Founder Shareholder's Trust.
To be in either group you had to have a season ticket for at least 3 consecutive seasons. Failure to renew your season ticket will mean either giving up your personal Founder share (in which case it goes into the pot owned by the Founders Trust) or you will no longer be a member of the Founders Trust (until you have had a season ticket for the 3 seasons again).
There are a total of 500 Founder Shares. To the best of my knowledge around half (250) are held by the trust and the rest by individuals.
Founder Shareholders have the final say in a number of 'Enshrined Articles' within the Articles of Association.
These 'Enshrined Articles' are important safeguards that should hopefully protect the long term future of the football club.
To pass any changes to these enshrined articles a vote amongst the founder shareholders has to be held and a simple 51% majority have to vote in favour.
So how do these affect any new joint stadium with Wasps?
Well, a number of these safeguards are there to protect the ownership and location of the stadium for the football club.
The items that (I believe) affect a new stadium are as follows:-
Does that include the man writing the cheques each year?
Quote:Then they could move the club to a more appropriate location where the revenues could be more substantial ( assuming there is such a place)