Supporters Society and Club vote overwhelmingly in favour of sale of Club to new investors.

Bath City Supporters’ Society members have voted overwhelmingly to approve the transfer of the Society’s shares to the Bath City Holding Company, marking a critical first step in the sale of the Club to the investor group led by Andrew Stalbow. The Society hold just over 50% of the shares in the club with the remaining shares held by individuals.

Over 96% of the votes cast were in favour of the deal. The vote followed a ‘Town Hall’ on August 13th where Supporters Society members and shareholders heard from proposed Chairman Andrew Stalbow and some of his fellow investors, including proposed Vice Chairman Richard Rivlin, Ivan Hindshaw and Curt Smith, about their plans for the Club. This was followed by a meeting on Monday 17th August where members were given the chance to scrutinise the proposed deal.

Speaking at this meeting, Ken Loach said;

Like others, I still believe in Community Ownership and I’m sad to see its loss, but it is clear that we do not have the resources to sustain the club or match its ambition. I hope that the structures put in place will ensure a truly joint enterprise between the supporters and the new Board. Andrew’s enthusiasm and commitment to the club and Twerton Park are inspirational, and I’m sure others will join me in voting for this change.

Commenting on the result, Bath City Supporters Society Chairman, Ian McKay said;

This was a ringing endorsement by the Supporters Society members for the deal. Having heard from Andrew in person and with the Community Share and a seat on the Board, our members were reassured that our club will be in safe hands, with people who appreciate the importance of supporters to the club and who are determined to support our community. We really hope that the individual shareholders acknowledge this too, and accept the deal so that the club can move into a new era.

It follows a similar endorsement by the Bath City Supporters Club, the fan body who organise away travel and undertake various fundraising initiatives for the benefit of the club. In a meeting on Wednesday 19th August, they voted unanimously in favour of transferring their shareholding to the Bath City Holding Company.

Club Chair David McDonagh said;

These results shows that the supporters of the Club are fully behind the proposed deal. It now rests in the hands of individual shareholders and so it is vitally important that, no matter how many shares they hold, they accept the offer and return their forms ahead of the deadline. They can do so with the confidence that this is what the Board, the Supporters Society, the Supporters Club and therefore the fans want.

On hearing the results, Andrew Stalbow said;

We are very humbled at the overwhelming vote of confidence from members of the Supporters Society and Supporters Club. They represent the fans who are the beating heart of every club. Also knowing that Ken Loach, who has been such an important figure in shaping the community ethos of the club, urged members to back the offer means a great deal to me. We hope that the individual shareholders follow their lead and accept our offer. We will then work very hard to deliver for this fantastic club and help it to unlock its potential.

For the investment transaction to proceed, 90% of the club’s total shareholding is required to confirm its acceptance of the offer from Bath City Holding Company. As of today’s date, over 80% have already confirmed their acceptance.