The Newcastle United Supporters Trust (NUST) has been set up to promote the Yes We Can campaign and will presumably hope to have a role in the future running of the club, once it is sold.
They have been working with a team of financial advisers across the region, who have so far secured pledges worth more than £24m from their clients, and since the money is taken form people’s pensions, it will not be missed, well not yet anyway.
Neil Mitchell, the interim chair of the Trust, said today:
“Today’s launch sets out an agenda to include the fans on the inside track of their club.”
“The overriding aim of the Trust is to buy into the club to make sure supporters have a voice in the corridors of power and the current situation at St James’ shows how vital that is.”
“The Yes We Can campaign shows that there is serious interest out there.”
SIPP allows people to choose what they invest in, and by agreeing to invest say £20K, the HM Revenue and Customs gives them £5K in tax relief.
The aim of the trust aim is to sell as many as 8,000 stakes in the club and to raise abut £200M in cash to buy out Ashley and have a fund for running costs and transfers.
Stakeholders can withdraw their investment at any time, and supporters can also invest in NUST, with money other than pension funds.
The club would have eight elected directors, with each stakeholder having a vote. There would also be seven supporters’ representatives, and of course this is the way both Barcelona and Real Madrid are run.
Colin Whittle, of the Trust, said today:
“We want the club to be part of the community again and we want the fans to lead the way in reforming our club and turning it into the a shining example of how the city, businesses and its people can rally around and create a club we can all be proud of.”
” The Trust is made up of ordinary fans from the city, across the country and abroad and we now have thousands of members.”
We think this will be very hard to pull off, at least buying the club outright, and if the club is sold to Barry Moat for instance, how will he look on the NUST?
Maybe the trust could give say £20M to Moat to help the club buy players, and then be rewarded with a seat on the board.
That seems a decent way of getting supporters involved in the upper reaches of the club, but then the representative from NUSC would need to be strong and professional on the board, for it all to work.
With opportunity comes responsibility.
What do you think of all of this?