giving clubs back to fans...

the labour government is to unveil radical proposals that would give football fans first option to buy their clubs when they were put up for sale and require clubs to hand over a stake of up to 25% to supporters' groups. under the scheme to give fans a stake, supporters' trusts with elected representatives, audited accounts and financial services authority recognition would be responsible for maintaining the link between clubs and their community and ensuring fans are not priced out of the game. the government could, however, face legal challenges from existing owners over the dilution of their shares. it has echoes of the model proposed by the so-called red knights attempting to buy manchester united. wealthy fans will contribute 74.9% of the overall purchase price, but supporters will hold a "golden share" of just over 25%, giving them a blocking stake on any change of ownership and an influential boardroom voice. legal advice is being sought on the idea of a change of ownership at a club triggering a mandatory window for fans to take the opportunity to shape the ownership structure and buy the club at a price set by an external, independent auditor. under the proposals, fans would be free to set up their co-operative style model, shareholding trust or other structure that enabled them to have a say in the club. while the government will reiterate that it has no desire to regulate football directly, the prime minister believes the democratisation of football club ownership taps into wider themes about the "mutualisation" of public services and the need for regulatory reform// owen gibson, 03.28.10, guardian