The board of Chelmsford City Football Club has issued the following statement:
“At the Club’s Annual General Meeting (Tuesday 29th March 2016) the Football Club Chairman, Trevor Smith, stated that when he took over as Chairman some eighteen months ago the board had three clear objectives:
1. Clear the debt
2. Sustainability and, most importantly of all
3. Attract investment
The Club have done well on the first two points but the third is obviously an extremely difficult one to achieve. The biggest challenge the board has had to face is if we were to get anywhere close to achieving our goals we would need to find an investor or investors willing to join forces with us to take the club forward.
The Chelmsford City Football Club board, led by the Club Chairman, have been actively seeking someone, whether it be an individual or a company, that will help us achieve our aim of taking the Football Club forward both on and off the field of play.
However, the board needed to ensure any such deal would have to have the caveats contained in it that ensured the Club would always be here and that it would always have a stadium that met the standard of football the Club was competing in at that moment in time.
After many months of hard work, research and due diligence, as well as speaking to several other interested parties, Trevor Smith believes the Club have now found a company in the Jade Global Group Limited that have the qualities, the longevity and the financial backing to help this great Club to achieve all of its goals.
The Jade Global Group believe that, following consultation with the Club board, that we are the experts in running this Football Club and therefore they want us to continue to run the Club with their backing. Members of the Jade Global Group would be joining the board of the Football Club.
To show our commitment, Chelmsford City FC have signed a Memorandum of Understanding with Jade Global Group Ltd for a minimum period of 10 years. Jade are also looking to totally revamp the Club site in terms of clubhouse extensions and upgrading the current facility, as well as looking at a new ground.
The current constitution of the company, that is, The Supporters of Chelmsford City Football Club Limited, is a company Limited by Guarantee. To take this proposal forward the Company would need to change its constitution. Therefore, a proposal regarding the Change of Ownership of Chelmsford City Football Club was put to the Company Members.
Following the AGM, Chelmsford City Football Club will write to the Football Association seeking permission to change the constitution of The Supporters of Chelmsford City Football Club Limited, this of course is also subject to the Club Members’ support and agreement.
The board of The Supporters of Chelmsford City Football Club Limited, trading as Chelmsford City Football Club, will be calling a General Meeting to vote on the resolutions required to convert to a company limited by shares.
Full details of the proposed restructure and a presentation was provided by the Club’s HR and Legal Director, Alistair Whipps, to all the Members present at the AGM. Copies of the presentation are to be emailed to Members not present at the Meeting.
It was agreed at the meeting that there would be a consultation period of 14 days on which Members and supporters would allow them to debate the proposal. This would then be followed by a 14 day notice period of a General Meeting, during which documentation will be given to the Members to vote on the resolution proposed. During this period of consultation and notice of a General Meeting all new membership has been suspended.
Trevor Smith has urged all members to seriously consider the proposal and asked that any questions be passed to the Company Secretary, David Selby, as soon as possible”