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FC United of Manchester
Manchester’s Leading Cooperative Sports Club
April 2012
Outline• Background• Approach• Future
Background
The State of the Game
• Revenue Top 4 Divisions £3.5bn • PL = 80%
• PL clubs debt = £3bn• 14/20 PL clubs made a loss• professional clubs - 56 insolvency events since 92• Portsmouth £137M debt
An Alternative?
• Fan-owned clubs• Cooperatively managed clubs• Fan Centred clubs• Community Focused clubs
Football Clubs as - CLUBS
Background
Origins
• Formed June 2005 - Glazer takeover
• Core Principles:– Democratic, not for profit, one member one vote– Creating access and participation through football– Community Commitment– Youth focus– Manchester focus– ‘Accessible & benefit to all the communities of Greater Manchester’
Development 2005-2012Fans• c.3,200+ members• Average attendance – 2,000• Up to 25% Under 18• High female participation• Accessible to low income families - £8, £2• Atmosphere – 90/90 culture• Over 1000 season tickets
Club• Elected board of 11 people• General Manager, Secretary and 4 FTE• 2 general meetings a year• Up to 300 Volunteers• Democratic decisions on name, badge, board, shirt, prices, rules
Community Commitment
• Partnerships established with City Council & other Local Auth.• Key areas: education, social inclusion, health, community cohesion• Initiatives include:
– Schools tournaments, coaching, classroom – Estate based delivery– Education initiatives – Match Day events – People United Day, Youth United Day
• Turnover 2010-2011 - £150k• Volunteer Coaches• Manchester College• Sponsored Minithon charity fun run
Facilities
• Developing own ground £4.8m• Ability to host on-site community activities • New 3G pitch and sports facilities• Junior Football Club links• Fit with local regeneration/sport development plans• Potential for health, education facilities• Club offices
Finance
• Grant Funding £2.4m
• Club Funds £2.4m– Community Shares £1.7m– Donations £0.7m
Community Shares ProgrammeTwo-year action research programme, funded by Cabinet Office & DCLG, delivered by DTA and Co-operatives UK, working with 10 organisations raising community investment completed April 2011:• Ashington Minors – childcare nursery
• Cybermoor – rural broadband services
• Brixton Green – community land trust and urban regeneration
• FC United of Manchester – building new stadium
• Hastings Pier & White Rock Trust – development trust
• Hurst Green Village Shop & Centre
• Oxford Cycle Workshop Training
• Sheffield Renewables – urban renewable energy schemes
• Slaithwaite Co-operative – community-owned greengrocers
• Tutbury Eco Power – renewable hydro energy
A unique form of capital
• Shareholder democracy: One-member-one-vote not one-share-one-vote
• Honesty not speculative gain: Withdrawable shares cannot increase in value (but they can decrease in value)
• £20,000 maximum holding of withdrawable shares: but agreements can be reached
• Flexible cap on share interest rates: No more than is “sufficient to attract and retain” the investment – 2% above base rate
Punk Football – Punk Finance
• Statutory asset lock
• HMRC – Enterprise Investment Scheme
• Support of Local Authority
• Support of grant bodies
FC United Experience
• Launched 2010 Ten Acres: £1.5m– Feb 2011 £1.3m
• Relaunched Nov 2011: £1.6m– March 2012 £1.7m
Number of FC United Members 3241Number of Adults 2810Number of shareholders 1351Average holding: Mean £1192Average holding: Median £400
Moving Forward
‘An alternative model for football club ownership that puts people and community first.’