Bath City FC and Bath City Supporters’ Society join together in recommending sale to experienced group.
The Board of Bath City Football Club, together with the Bath City Supporters’ Society Committee are pleased to announce it has an agreement in principle for the sale of the Club to an investor group. The Board has been advised by leading football advisory firm Carteret, in a year-long process designed to attract fresh capital and a strong management team to support the longer-term ambitions for the club.
Both the Board of Bath City Football Club and the Bath City Supporters’ Society Committee voted unanimously in favour of approving the agreement, which will now be recommended to all our shareholders for their final approval.
The investor group is led by Andrew Stalbow, an entrepreneur with experience in mobile games and entertainment, and who would become the full-time Chair of the club. The investor group comprises investors with impressive backgrounds in sport, technology, finance, games, healthcare and consulting. The seed round of approximately £6m will be invested into the Twerton-based club with the objective of building Football League ready infrastructure and enhancing the club’s connections with the fans and the local community.
The proposed new Board will be led by Stalbow, who is to be joined by Richard Rivlin as Vice Chairman, Abdallah Yafi as President and Director Ivan Hindshaw. All the proposed Directors have passed the FA’s Owners and Directors Test. Notable other investors include Bath-born and lifelong football fan Curt Smith, who co-founded Tears for Fears, and who will become a club Ambassador.
David McDonagh, Chair of Bath City FC:
This is an incredibly exciting moment in the club’s long history. Many, many people have worked tirelessly over the years to keep this club viable. This past season, with relegation, has shown just how hard that has become without outside investment, and we’re lucky to have had a number of benefactors, who haven’t asked for the acclaim, but without whom this club could not have survived.
The Board have no hesitation in recommending that all shareholders vote to accept this deal. In Andrew and the team, we believe we have found great partners who have not just the vision and ambition to take this club to the next level but also have already secured an impressive amount of investment at this early stage.
We look forward to working with Andrew and the investor group over the coming months.
Ian McKay, Chair of the Bath City Supporters’ Society says:
Along with several of their investors, we’ve spent a lot of time with Andrew, Richard, Abdallah and Ivan. We know they understand what makes this club so special and are committed to remaining true to our community values.
They proposed a seat for a supporter group representative on the new Board and it has also been agreed to issue a Community Share and enter into a Protected Rights Deed which gives the Society prior consent rights over some fundamental aspects of our football club and enhanced consultation rights.
This more than secures our short-term survival. It brings financial backing which will enable us to begin the much-needed process of investing into Twerton Park. Therefore, the committee are recommending that our members vote to approve the deal.
Andrew Stalbow, proposed Chairman, says:
We’re excited to get the opportunity to share our vision and ambitions with the fans shortly. We have spent a lot of time in Twerton over the past year, have made many friends, and we understand the responsibility that goes with our roles.
We will work hard to unlock Bath City Football Club’s potential. We couldn’t be more pleased to be working with Scott Bartlett, and from the outset, we’ll invest into Scott’s team for what is an important upcoming season.
And our plans include supporting the women’s teams and enhancing Twerton Park, all of which are integral to the Bath City community.
All Bath City Shareholders will have an opportunity to attend a ‘Town Hall meeting’ with Andrew and members of the investor team ahead of casting their votes, which will be held at the Cannon Clarke Stadium @ Twerton Park on 13th August at 7pm.
The transaction remains subject to shareholder approval and any necessary regulatory consents.
For any further information on this news please direct all contact to media@bathcityfootballclub.co.uk
