BCFC: Club Update
Following several weeks of silence on the takeover front, the club finally issued an update last Friday (see this link). The update confirmed that the owners had accepted an approach from Paul Richardson and Maxi Lopez for both St. Andrew’s Stadium and a shareholding in the club itself (assumed to be 21.64% although the announcement didn’t specify this). There was also an announcement in parallel on the Maxco Capital website, the company controlled by Messrs Richardson and Lopez.
This is a welcome development because, for the first time, it confirms from the club’s side that some sort of activity is happening regarding the ownership of the club. It is slightly unclear why the announcement wasn’t made until September given that the agreement was made in July, but nevertheless it is a positive move.
During the closing days of the transfer window, Maxi Lopez and Paul Richardson had posted on social media frequently from the ground or training ground, so it was clear that they were already involved in some capacity.
The Trust understands that Maxco are currently financing day to day activities at the club so their financial commitment is increasing. And there have been press stories in recent days about them getting a plan together to address the ground issues once the deal is confirmed.
The statement says that the deal is subject to the EFL’s approval process, and the parties are now working with that organisation to secure the consent required. There have also been several recent stories in the press suggesting there will be a three-way meeting shortly between the EFL, representatives of the current owners and Maxco.
Whilst it is imperative that the EFL examine the deal properly, the Trust also hopes that a decision is reached quickly so that the club can progress. To this end, the Trust has been talking to the FSA to seek its support and influence to urge the EFL to reach an informed decision at the very earliest opportunity.
Whilst it is not an ideal situation, with BSHL still owning 75% of the club if the deal is approved, this latest development does indeed look like another significant step in the right direction. Assuming the deal does go through, and soon, Blues Trust looks forward to the potential new owners engaging with the fans quickly and openly about their longer-term plans for success.
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