In 1982, the club became a Limited Company by Guarantee of Members and over the years it has traded effectively under this structure. However, with the building of the new stadium and the excellent facilities it now boasts and with the move of becoming a full time professional club, there is a need to spread the financial load more evenly. Such will enable the club not only to retain its position in the top echelons of the game at our level; but still allow potential to improve both on and off the field.
To this end, as of 1st November 2009 the club and all its attendant activities will come under the auspices of being a new Limited Company by shareholding ~ Forest Green Rovers Football Club Limited.
The formal meeting to take this move will be effected on Thursday 22nd October when full details will be explained to the 38 existing members, who have control of club affairs through an internally elected Board of Directors.
Club spokesman Colin Peake stated “Ever since the club was formed in 1889, by a local minister, individuals have played a tremendous part over the intervening years in driving the club forward to its present position. We have a first class stadium and undoubtedly without argument, facilities for the community around us, which are second to none. This latest change is part of the whole process of the club being in the best financial position it can be for the future and what may lie ahead over the horizon for us all, let alone the football club. As we all know from recent experience, that can come as a shock if you are not best prepared and we need new investment to keep us on an even keel at this time, as well as being in a position to tackle future challenges”.
Speaking in relation to the mechanics of the change, Mr Peake added “Initially, through our restructure and the issuing of shares, the club seek to bring in £100k of new money and investment possibilities. The club will therefore be pursuing all avenues open to it at this time, in an attempt to raise these funds with a minimum of delay”.
Short term, the existing Board will continue to operate the club across all the elements that make up the club including commercial activities and of course the important football side. The required changes have taken considerably longer than anticipated but the required legal formalities have now been completed and the club can proceed with the launch of its proposed Share Issue.