AFC Telford fans back move to lift shares limit
AFC Telford's move to scrap the limit on the amount of shares that can be bought by one individual has been backed by supporters.
A 20 per cent cap on share uptake for any business or individual interested was waived at the club board's AGM – and the remaining 68 per cent of shares in the New Bucks Head side will go on sale this month.
In a Shropshire Star poll, 76 per cent of voters were pleased to see the limit lifted.
The club could soon find themselves with a majority owner, and season ticket holder Phil Ball said: "It is about time they lifted that and hopefully someone with some decent money comes in so we can look forward with excitement."
Annual accounts approved at the meeting showed the Bucks made a loss of £13,065 in the year to last May. Turnover fell by 21 per cent to £691,683 and, in response, the club slashed its wage bill by more than £103,000 to £528,583 last season.
The main fall in income stemmed from lower gate receipts, with the overall figure falling from £243,000 in 2014-15 to £125,000 last season.
Other areas such as season ticket revenue and grants from the FA fell, but donations and sundry income grew by almost £70,000 to £283,000.
Carolyn Hornby – a long-time fan who orders stock and sources new items for the club shop – said: "With respect to the 20 per cent cap, I think that it needed to be removed to attract major investment." Considering the massive fall in match day revenue, the club did a great job in cutting costs so that the overall loss is relatively small."
Joey Heppenstall – who is a season ticket holder – said: "I think it's a positive move to remove the 20 per cent cap but realistically, the club may still struggle to find a majority investment."
Richard Worton – who writes for the AFC Telford United matchday programme – also realises the difficulty of finding a larger investor and said : "I still think finding investors will be a challenge but some obstacles to larger investors coming in have been removed now."
He added: "Those involved at the club have taken a lot of criticism, and it's right that they shouldn't be exempt from or immune to it.
"However, I think they have performed a minor miracle in cutting the costs as they have. We can all say what we'd do, but they have to actually do it."
Meanwhile, Telford's scheduled National League North fixture at Stalybridge Celtic last night was called off due to a waterlogged pitch. A new date for the fixture will be arranged in due course.
