Interesting proposition

[Iron Age]

https://www.scunthorpe-united.co.uk/news/2023/february/fan-stadium-ownership-opportunity–lifetime-1899-membership-package/

[MK Iron]

Is this money where the mouth is time?

[ironfromafar]

A few questions need clarification but sounds like a great offer if all the Is are dotted and Ts crossed… generating 3.6 mil pounds for the club.

[cassidystash]

Do the Club own the ground or is it being sold on behalf of a third party?
Who will be responsible for the maintainance and any further improvements?
Just asking.

2 users thanked author for this post.

Ferrite, bartonscorpion

[Cliff Byrne’s Right Peg]

Hilton stated The club will sell shares to the 1899 members so I presume they are the owner. Also as the club are the tenants, they take responsibility for upkeep.

Looks a good idea in principle, just needs some clarification on certain things.

Still alot of clarification but it seems a great idea in principle.

[Awaywego]

Time for innovative ideas so everyone can get involved who can’t buy a share for themselves, friend groups, pubs, clubs, maybe the trust to buy as many as possible through a fund so long as people know they are part of it what a legacy to leave for the town, hope the council buy a share.

[f row crew]

Good idea in principle not sure how many of the average supporters will see it as a worthwhile investment for a large outlay though with not a lot tangible given back in the short term. I’m always glass half empty, so If I buy a share as an 80 year old and die a year later I assume my share and all associated benefits get passed to my nearest and dearest ?

[Awaywego]

You can only pass the share down for 999 years I’m afraid.

[Iron-awe]

Awaywego wrote:

You can only pass the share down for 999 years I’m afraid.

😂😂😂 Quality.

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Sanfran49

[Iron Age]

If an investor is settled and happy with whichever part of the ground they occupy at present, do they have to up sticks and move to the east stand?

[Iron-awe]

Iron Age wrote:

If an investor is settled and happy with whichever part of the ground they occupy at present, do they have to up sticks and move to the east stand?

No just give them the money and carry on as normal, I’m sure both parties will be perfectly happy with that.

[lesgeo]

Only 999 years? There’s always a catch with leasehold.

1 user thanked author for this post.

billpuntonsghost

[billpuntonsghost]

I would buy a share if I had the money,wouldn’t you Les?

[ironfromafar]

is the share allocation limited to the number of shares any one person or business can purchase ?

Overseas based fans wishing to purchase can do ?

[lesgeo]

I’m thinking about it, Bill. It’s a bit of a stretch, though.

1 user thanked author for this post.

billpuntonsghost

[Pat O’Cake]

As others have said, great idea in principle, some questions to answer though I’m certainly interested.

[ironfromafar]

I have emailed the commercial department at SUFC requesting full details of the share option and also tagged a few personal questions, i will post any reply i receive.

4 users thanked author for this post.

Pat O'Cake, open hearth iron, RoamingBull, inspector

[RoamingBull]

Yep we’d be up for it but still
Be standing.
Not bothered about a half time pint but a couple prior to the match in nice ambience would be great.
Hopefully open the ground like the good old days to make it easy to transfer from stand to stand bc without getting the gastapo treating us like a herd.

But as one states more info welcome

Do we reckon we’d sell the lot? Tall ask but great idea.

[Ferrite]

Nearly £2,000 a head for roughly half the average home support? It certainly seems ambitious.

There’s definitely merit in the idea but I’d like to know more, such as where the money’s going, do these shares entail any obligations like someone mentioned above with maintenance, how will future decisions on the ground be made (1 member 1 vote? Simple majority?), what happens if not all the shares are taken up?

[Northumbiron]

How many will Coolsilk be buying?

[64]

It’s very thin on legal detail isn’t it?
how much do the 1899 own 50% or less?
Who will administer it.
Who make major decisions about infrastructure, are they liable for any debts incurred by the land company. I could go on

[billpuntonsghost]

There you go Fans64,the club wants to move to a fans ownership ( sounds the type of thing lots on this site have been clamouring for?) and you give a negative post.
Agreed it needs to be understood fully and not to be rushed into blindly.
The idea seems the right way forward and maybe your cautious approach will eventually embrace it?

[ironfromafar]

64 wrote:

It’s very thin on legal detail isn’t it?
how much do the 1899 own 50% or less?
Who will administer it.
Who make major decisions about infrastructure, are they liable for any debts incurred by the land company. I could go on

In no way am i being negative but I too found the initial idea to be very light on detail … it left many areas both legal and otherwise unexplained… it was like a test the water for any interest.

Today i emailed the club to request full documentation as i had many questions that needed to be covered.

[64]

it look like a life membership to a discount club,you don’t own anything other than that as it ends when you die it’s in the name lifetime ,Surely if you own Bricks and mortar you get to pass them onm or sell them.Also once time opportunity suggest it may get lonely in the bar in a few years, once the smell of lavender and urine expires.Last one out please ask where the shares went

[billpuntonsghost]

..being ‘Scunthorpe United’s number one fan’ ,your input always gives me great optimism,Fans64.

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Awaywego

[Awaywego]

Obviously more detail needs to come out to answer all concerns, I’m sure everything will be quite simple and it needs to be, imo pause the roll out until everything is in the public domain maybe start it end of July, the one thing I am sure about it’s not an investment, more of a gift to the people of Scunthorpe.

1 user thanked author for this post.

Sharp_Shooter24

[cassidystash]

ironfromafar wrote:

I have emailed the commercial department at SUFC requesting full details of the share option and also tagged a few personal questions, i will post any reply i receive.

Good luck with that. I emailed them for some clarification on the Crowd Funding initiative. (Seems to have gone quiet)
I received a reply but no answers.

[Sgt Booba]

64 wrote:

it look like a life membership to a discount club,you don’t own anything other than that as it ends when you die it’s in the name lifetime ,Surely if you own Bricks and mortar you get to pass them onm or sell them.Also once time opportunity suggest it may get lonely in the bar in a few years, once the smell of lavender and urine expires.Last one out please ask where the shares went

“Lifetime 1899 Memberships are available to purchase via a one off payment with no annual fee or subscription and are also fully transferable”

[Bucksiron]

An excellent initiative but of course more detail is required. Either way, it’s another step in the right direction.

2 users thanked author for this post.

Sharp_Shooter24, billpuntonsghost

[MK Iron]

My main question is regadding the lifetime part. Are we talking my lifetime (sadly not as long to go as I would like) or the lifetime of the stadium?

It says transferable so does that mean I can pass it on to my kids or grandkids when I reach full time?

Otherwise 64 has a good point and the promised new bar becomes gods waiting room.

[Author]

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