Re: Statement from the Supporters Co-Op Steering Group

By Fromage8/2 11:11Thu Feb 8 11:11:59 2024In response to Re: Statement from the Supporters Co-Op Steering Group

Views: 867

They can either be limited by shares, whereby the shareholders are held to account, by the proportion of their shareholding.

...or they can be limited by guarantee, whereby the directors are held to account.

For me, it is not about whether the Directors are paid or not, it is the fact that they will take the corporate responsibility for any financial problems incurred if the CIC fails.

I would be far happier if the CIC was limited by shares because the shareholders would appoint the Directors & would have the power to remove people who were not performing & appoint new Directors.

Thanks for explaining the differences again VoR. I agree that supporters or a supporters led group having more control over who runs the club makes more sense. I don't know if supporters would want the financial burden if things don't go as well as they would have expected. Is there a way to get around this?

I would urge anyone to look and speak to Bury AFC before making decisions about forming a new club.