Main Menu

Club hopes to give fans majority stake

Hibernian invites fans to buy shares on website

HIbernianHibernian Football Club has become the first to allow fans to buy shares directly through its own website.

Using technology developed by ShareIn, a local fintech business, it will be used to help give supporters a 51% controlling stake.

Jude Cook, co-founder and chief executive of Edinburgh-based ShareIn, said: “I firmly believe the best place for a football club to have a share offer is from their own website.”

“ShareIn offers the technology and handles the financial regulations so clubs like Hibernian can focus on promoting their campaign.”

Leeann Dempster, chief executive of Hibernian FC said: “We are committed to widening supporter ownership, up to a controlling interest of 51%. We have also said that every penny we raise through the sale of new shares will be invested in funding the club’s football ambition. None of it will go to any existing shareholders.

“That means supporters can gain ownership, allowing them to protect and invest in their club, secure in the knowledge that the money they spend goes directly to the club they love and support. This is all about building momentum and securing the Club’s future.”

The Scottish Government is supportive of fans having a greater role in the decision-making and running of their clubs. A commitment to consult on this is contained in the Community Empowerment (Scotland) Act 2015.

The Easter Road club launched a fundraising exercise last January in a move to give the supporters a majority shareholding.

It announced an operating loss of £840,000 for the financial year to July 2015 and managed to reduce its debt by £2.6million.

A major restructuring of the debt included an interest-free £5m loan from from current owner Sir Tom Farmer

 

Share The News Tweet about this on TwitterShare on FacebookShare on Google+Email this to someoneShare on LinkedIn





Leave a Reply

Your email address will not be published. Required fields are marked as *

*