Courtenay has agreed to sell 20% of his majority shareholding in return for a payment of £400,000 from the 18-month-old supporters' trust, to be payable in two instalments, the first £100,000 immediately and the remaining £400,000 within 3 years. In addition, he has agreed to sell more shares to the trust to enable them to take a maximum of 49% while he remains the majority owner. He is also prepared to give them first refusal on the final 2% that would allow them to take control of the club when he leaves, which he currently plans to do in five years' time. The news was hailed on all sides today as a triumph for CCUIST, who were in the vanguard of the protests to oust previous owner Michael Knighton. CCUIST chairman Alan Steel said: "The little guys have done it. Our board is very, very enthusiastically behind the offer. We sincerely urge everyone to vote in favour of it. It is historic. It is our one opportunity. We have got to seize it with both hands and make sure it is accepted." For his part, Courtenay said: "It is meant to show the people of Carlisle that my intentions are good. I am not doing it as a money-making exercise, I am doing it is a genuine way to make sure this club doesn't go backwards. I feel it is a very generous offer." Courtenay also stressed he now expected it was "very likely" that the fans would end up owning their own club. "If and when I decide to go, I would like the decision to be that the Carlisle people have the right to buy their own club. If CCUIST use this opportunity properly, it won't take very much for them to step over the line and take control," he added. CCUIST's current share fund stands at £100,000 and is expected to rise by another £30,000 before the end of this season. They therefore need to raise an extra £270,000 over the next three years to complete the purchase. Some 300 of their 1,000-plus members are paying £3 a week into an innovative share save scheme that has been running since the Trust was formed in May 2001. They hope to continue and expand on this scheme as well as attracting more donations from local businesses and local authorities and funding organisations. The deadline for acceptance of the deal is Thursday. The results of the members' ballot will be overseen by the city council's electoral officer. Picture from News & Star |
