Lakers to Sell Shares in Club
Doncaster Lakers owner John Wright is to hold an extraordinary meeting at the East Stand restaurant in the Keepmoat Stadium at 5.30pm Sunday 6th May after the Whitehaven game. Wright who owns 10,000 shares will be offering 40,000 shares in the club at ?10 each which will effectively put the future of the club back in hands of the people of Doncaster. The club are proposing a CVA which will mean anyone purchasing shares will not find their investment being used to pay off historic debts.
?The Lakers belong to the people of Doncaster and it is now time for them to take ownership. The CVA will write off the money I have loaned to the club and leave the balance sheet in a strong position so the club can move forward and invest in the future.
"I have tried to get others interested in buying the club but no-one wants to commit at this time and after thinking it through I really feel a share issue with the club being owned by many people is the best bet for the future anyway. The problem with relying on individuals like myself to fund a club is that at some time it may become impossible for the individual to continue, as has become the case with myself?, said Wright.
Once shares have been taken up the club will no longer be owned by Wright who has just put his last investment into the club. The share price values John Wright?s shares at ?100,000 which is more or less the money he has invested personally since the club moved to the Keepmoat.
?I am not only asking for people to invest in the Lakers but I want to put together a Board of Directors from the Doncaster community who will fulfil the potential the Lakers have at the new stadium, so anyone who feels they can give of their time should ring the club. Ideally I would like to get on board a financial person, a solicitor, a marketing and sales expert and a representative of the supporters but anyone with valuable business experience will be welcome. Once we have a newly constituted Board I will let them decide who they want as Chairman but I will not be putting up for the job myself?, commented the Lakers Chairman.
At the meeting on Sunday the club will explain the implications of the CVA in relationship to the future of both the Business Plan and current playing squad.
what do people think of that??
defo a club in trouble if you ask me
