Pars United Launch Campaign To Buy Dunfermline Athletic
Fri 24th May 2013 | Clubs Ownership
A new fund-raising campaign called ‘BuyThePars’ has been launched by Pars United, assisted by Pars Supporters Trust and Supporters Direct Scotland.
The group’s aim is to purchase Dunfermline Athletic Football Club to take the club under the control of supporters.
Pars United hope to raise a minimum of £500,000 before the end of July. All capital raised will be held in secure trust accounts to allow the money to be repaid to those pledging support if a CVA is not successful.
Taking into account the tight timescales, Pars United has set a minimum target of £400,000 for Pars Patrons, and a minimum target of £100,000 for Pars Supporters, who themselves will purchase a share in the Pars Supporters Trust [Dunfermline Athletic Supporters Society Ltd] which functions as a Community Benefit Society authorised by the Financial Conduct Authority.
Shares are available at a minimum price of £100 and individual fans can invest up to a maximum of £5000.
Bob Garmory from Pars United, who is leading the initiative, said: "Our club has been through a traumatic period in recent months and throughout that time many fans realised that there was a distinct possibility of there not being a Dunfermline Athletic as we know it. We now have a very real chance, through the ‘BuyThePars’ campaign, to take the club into community ownership.
“The club is of course still in a period of administration but we want to be ready and in pole position to buy the club from the club’s administrators. We need to act now to be in a position to make an offer to buy the club as soon as the opportunity arises.
“We are acutely aware that Dunfermline Athletic fans have already been extremely generous and without question they saved the club from moving straight into liquidation. We are now moving into a new phase, from saving the Pars to buying the Pars, so we need everyone to make a final push and safeguard our club for the community and for new generations of Pars fans.
“There are Pars fans in every corner of the world and the ‘BuyThePars’ initiative will let them own a piece of the club they love and secure its future. We firmly believe this is an offer that will be of interest for the whole community and not just those who come week in week out. This is about protecting a valuable asset that represents the town and is as important historically as Andrew Carnegie or the Abbey. We believe with community ownership we can continue to add to that history with a new beginning.”
Paul Goodwin, Head of Supporters Direct Scotland, said: “In recent months the resilience shown by Dunfermline fans to save their club has been fantastic. They are now moving into an exciting phase where they want to become the latest community owned football club in the UK. Fan and community ownership schemes are not unheard of with five in Scotland already and very recently down south we have seen Portsmouth becoming a fan owned club. Europe also has some very high profile clubs such as - Benfica, Borussia Dortmund and Barcelona - operating under this structure and there are many more clubs considering community ownership
“Supporters Direct Scotland has been working with the Pars Supporters Trust for some time now to help them develop its ‘BuyThePars’ campaign, a vehicle for its fans to buy into their club and hopefully now they can achieve their goal of owning the club they love.”
Posted by: Aaron Gourley
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