Re: Elephant in the room
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I am only guessing C&B but it looks to me that the current CIC is a limited company, limited by directorship, where the Directors are acting as Agents & have no financial responsibility?
In these circumstances, the new Club could ask the supporters to pay a joining fee & an annual membership fee thereafter.
If the CIC was limited by shares, then there could be a share issue & in return for the shareholding a shareholder would receive an annual dividend, say 7.5% but I think that dividend would have to be paid, irrespective of the CIC's financial position at the year end?
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