26 Feb 2009Ebbsfleet facing shareholder concerns

Football Clubs News | Football Finance News | Football Supporters News

Ebbsfleet United are facing a battle to secure the required number of shareholders to finance their running costs for next season, it has been suggested today (February 26th).

The Blue Square Premier side were taken over by fans' website MyFootballClub in November 2007, when 20,000 people agreed to buy a share for a year at £35 each.

However, the club needs 12,000 renewals by February 19th in order to keep on track with its 15,000-16,000 target for raising next year's budget but has so far only received 10,000.

Chairman John Moules said: "Realistically, we need between 15,000 and 16,000 subscribers to raise the running costs for next season, which are around £500,000 to £600,000.

"February 19th was when the first-year members' subscriptions became renewable and we had hoped to have 12,000 by then, but we are still a couple of thousand short."

Moules added that he expects the club to meet the total before the beginning of the new campaign in August, while also confirming that selling up is "not a route we will be going down at the moment".

The club changed its name from Gravesend and Northfleet to Ebbsfleet United in May 2007.

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