Fleet shareholders agree fans' website deal

EBBSFLEET UNITED shareholders met last night to agree the takeover of the Blue Square Premier club by the 28,250 members in 72 countries of MyFootballClub, to become effective today.

This marks the world’s first website-community takeover of a football club and indeed is the first website-community takeover of any business.

MyFC, which launched on 26 April 2007, has purchased a 75% stake in the club and members have so far contributed £1m.

The 75% stake in the football club will cost £625,000, with £400,000 paid upfront and the rest spread over two years. Almost 2,000 members have already renewed their membership beyond the first year, that money being ringfenced until the season of that extended membership begins.

Article courtesy of www.ebbsfleetunited.co.uk