AFC Telford poised to offer update on share issue
AFC Telford chiefs were last night locked in talks over the club's future as the deadline passed for anyone wanting to purchase shares in the club.
New Bucks Head officials are set to release a statement this week as the club bids to change direction in how it's run.
Having previously been owned by supporters, the club held a vote in November to change their ownership model to allow external investment.
Of the 123 votes cast, 118 voted in favour of the proposals, three voted against and two ballot papers were spoiled.
That saw 500 lots of £100 shares go on sale that could be purchased by interested individuals and businesses, however no one person or organisation could purchase more than 20 per cent of the club.
It is understood the sale, which was open for 21 days, received interest from significant potential foreign investors.
And at a board meeting last night, chairman Ian Dosser met with club executives as they looked to plot the club's future.
Speaking to the Shropshire Star, Dosser confirmed an official statement on the sale of shares will be announced.
Telford began life as Wellington Town but were renamed in 1969 to mark the growth of the new Shropshire town. But despite becoming a major force in non-league football and reaching the FA Cup fifth round in 1985, financial difficulty saw the club forced into liquidation in 2004.
They then reformed as AFC Telford United.
Currently sat 14th in National League North, the sale of shares was sparked when the club revealed it had to raise £25,000 in both October and November.
That saw supporters and local businesses rally with the club receiving increased attendances.
The Bucks also appointed a new commercial manager in October, with Liz Allsopp joining in a bid to increase revenue.
