Fans Website Takes Over Club - 13/11/2007

Fans' community website MyFootballClub has agreed a deal to take over Blue Square Premier outfit Ebbsfleet United (formerly Gravesend and Northfleet). The 20,000 MyFootballClub members have each paid £35 to provide a £700,000 takeover pot and will all own an equal share in 'The Fleet'. Members will have a vote on transfers as well as player selection and all major decisions with the manager being called head coach. The deal is expected to be completed in a few months after a due diligence process and the website will purchase a 51 per cent controlling stake, while also having the option to buy the club outright in the future. Ebbsfleet's push for promotion to League Two will receive a boost as some of the funds raised by MyFootballClub members will be available in the January transfer window. MyFootballClub was approached by nine clubs and looked into seven of these before opting to take over Ebbsfleet, said to be the only club re-named after a station. Deloitte football specialist Dan Jones commented, 'The MyFootballClub ownership model is an innovative way of funding a lower league club. Reports of having raised over £700,000 in 11 weeks suggest it is viable too.'