Evo-Stik Northern Premier League club Altrincham look set for new investment after their board called an EGM.
The meeting will take place to allow a motion to be passed to seek, what they call, “significant investment” via a share offer.
It has been a tough couple of years for the Robins, with consecutive relegations leading to them kicking off the new season at step three of the non-league pyramid.
A club statement read “The Board of Altrincham FC has called an Extraordinary General Meeting in a bid to pass motion which will allow the club to bring in significant investment through a share offer.
Subject to approval at the EGM, the club will buyback 117,000 shares, roughly 51%, in order to create a means to generate finance. Altrincham will then be in a position to sell these shares to a suitable investor(s).
To progress on the field Alty has already made exciting signings for next season, and is moving forward with ambitious plans, despite the disappointment of recent relegation to the Evo-Stik Premier Division. To help with progression, the Board has appointed The Sport Business to help and support communications and commercial activities at the J Davidson Stadium.
The Sport Business has worked with the football club on previous projects and helped raise more than £550,000 for the Community Sports Hall at Moss Lane.
Chairman Grahame Rowley said, ‘We’re determined to get Altrincham back to where the club belongs, at the pinnacle of non-league football. We’ve been working hard to get things in place on and off the pitch and we’re delighted to partner with The Sport Business, a local company we know and trust and who have Alty’s best interests at heart.
‘We believe that with their contacts in business, sport and the media, they can help in many ways – bringing in investment, raising our profile and helping us to develop as an ambitious football club.’
Alty, a club with a proud ‘giant-killing’ history, currently delivers organised football and coaching for more than 1,000 children each week, and has received awards for its community, charity, and junior football activities.
Altrincham FC wants to be seen as representative of the exciting and dynamic developments within Altrincham Town Centre”
Supporters group Goodbye Rowley, who have previously protested against the Robins chairman, have reacted to the statement in a positive manner saying “We particularly welcome this week’s announcement, as the calling of an EGM to consider a share issue offering a controlling interest in the club were key pre-conditions in agreeing to March’s meeting. For creating such an opportunity, regardless of the circumstances and people’s own opinion of his tenure, Graham Rowley should be applauded.
A group spokesman said “This football club represents a fantastic opportunity for potential investors to acquire a controlling share in one of the most famous names in non-league football, at a time when we find ourselves in our lowest ever position.”
Article: Mark Carruthers (@marknldaily)
Image: Reuters Media