Wednesday, June 07, 2006
Supporter's Trust in share buying bid
From the East Fife Mail
East Fife Supporters Trust is tabling an offer to buy almost £100,000 of shares in East Fife FC.
The bid for 20,000 shares is subject to a number of conditions.
These include calls for present club chairman Derrick Brown to leave the post, “significant changes” in the current board of directors and a position on the clubs board being made available to a Supporters Trust representative.
Trust chairman Allan Duthie said “The reason we have acted now is we were disturbed by reports that the club was trying to borrow money in order to fund the plastic pitch.
“It seems absurd that East Fife FC should go back into debt when there are people willing to invest in the club.
“This way we will be investing directly into the club.
“When we combine our investment with that of Sid Collumbine’s group, we are talking about close to £150,000 new money for the club”
Mr Duthie added “The Trust has a clear vision for the future of East Fife and we can contribute a great deal both financially and in other ways to achieve this vision.
“We want a club which is playing at Division One level and we also want a club which is seen as an important part of its local community. We are already committed to the Fife Fans for the Future action group working to create a major community facility and we will use our influence within the club to help achieve its aims”
The Trust’s offer and the chance to work with it to support the club’s resurgence has been welcomed by the consortium being led by Sid Collumbine, which has submitted plans for a stake at Bayview.
On the consortium’s behalf, former East Fife chairman Bruce Black said “I welcome this move by the Supporters Trust. The club needs investment, it needs change at the top, and it needs to work more closely with the supporters and the community.
“This is a major step towards all these objectives which all with the club at heart will be welcome.”
The offer was due possibly for delivery to East Fife late yesterday (Tuesday), and after the Mail had gone to press.
Local MSP Christine May said “I hope this will herald the advent of better relationships between the Club and the Trust and next year, East Fife can get back to winning matches and the hearts of supporters.”
East Fife Supporters Trust is tabling an offer to buy almost £100,000 of shares in East Fife FC.
The bid for 20,000 shares is subject to a number of conditions.
These include calls for present club chairman Derrick Brown to leave the post, “significant changes” in the current board of directors and a position on the clubs board being made available to a Supporters Trust representative.
Trust chairman Allan Duthie said “The reason we have acted now is we were disturbed by reports that the club was trying to borrow money in order to fund the plastic pitch.
“It seems absurd that East Fife FC should go back into debt when there are people willing to invest in the club.
“This way we will be investing directly into the club.
“When we combine our investment with that of Sid Collumbine’s group, we are talking about close to £150,000 new money for the club”
Mr Duthie added “The Trust has a clear vision for the future of East Fife and we can contribute a great deal both financially and in other ways to achieve this vision.
“We want a club which is playing at Division One level and we also want a club which is seen as an important part of its local community. We are already committed to the Fife Fans for the Future action group working to create a major community facility and we will use our influence within the club to help achieve its aims”
The Trust’s offer and the chance to work with it to support the club’s resurgence has been welcomed by the consortium being led by Sid Collumbine, which has submitted plans for a stake at Bayview.
On the consortium’s behalf, former East Fife chairman Bruce Black said “I welcome this move by the Supporters Trust. The club needs investment, it needs change at the top, and it needs to work more closely with the supporters and the community.
“This is a major step towards all these objectives which all with the club at heart will be welcome.”
The offer was due possibly for delivery to East Fife late yesterday (Tuesday), and after the Mail had gone to press.
Local MSP Christine May said “I hope this will herald the advent of better relationships between the Club and the Trust and next year, East Fife can get back to winning matches and the hearts of supporters.”
# posted by The East Fife Faithful @ 12:38 AM 
