Fans vote for new owners at AFC Telford

Managing director Lee Carter revealed a recent meeting was held before the Lowestoft home game.

It found an 'overwhelming majority' of supporters were in favour of Option B - to look at different models of ownership which may include a share issue to raise much-needed funds.

Option A was to remain as they are – a solely fan-owned club – but supporters have realised that to compete with the best teams in National League North, they need more investment.

Carter said: "The overwhelming majority of fans voted to explore other forms of ownership. It doesn't solidly focus on Option B, because there could be other alternatives.

"But the starting point is something needs to change and everyone agrees on that.

"There's far too much pressure resting on certain individuals. I feel pressure more than ever and I'm hurt, angry and frustrated at our league position.

"We're down to a board of five and we need to spread the responsibility more.

"So we've been given a mandate to look at different alternatives and we'll spend January looking at those options and the way forward."

The original proposal behind Option B was to launch a share issue where fans could buy shares worth £1,000 each to a maximum of 300, to raise between £100,000 and £300,000.

But Carter is in favour of retaining some form of fan ownership on the board.

He added: "I was one of a core of people who set the club up as a fan-owned concern 12 years ago and I firmly believe in that model.

"However, it's clear from a financial point of view we need to look at other forms of ownership to give ourselves a better chance of competing going forwards.

"For example, we need £25,000 to expand our NVQ scheme to level two to a second year, and that would bring in significant sums, but we just haven't got that capital in the business."