Last summer, people in Bath and beyond raised over £300,000 in pledges towards the goal of taking Bath City FC into community ownership, securing the club’s future and giving our city the football club it deserves.
We have now signed a fresh agreement with the club’s majority shareholders. If we can hit that target of £300,000 again - before 28 September - you will be able to take a majority stake in the club.
This would put you - a democratic group of supporters and community shareholders - in the driving seat of the club’s future, and kickstart the process of reinvigorating and refreshing Bath City FC.
The BBCB team has submitted a new prospectus to be approved by the Community Shares Unit and will relaunch the Bid in the coming days.
Pledgers have until 28 September to decide whether to stay invested under the new plan.
New pledgers will also be able to buy new community shares through a new Crowdfunder.co.uk fundraising page
To be totally clear, we don't need another £300K on top of last year's total.
If everyone who pledged last year stays with us, we will hit our target and take a majority stake in the club - but with more pledges, we can bring ourselves even closer to 100% community ownership.
Additional funding unlocked
If pledgers hit the £300,000 target, a group of sympathetic Bid supporters has agreed to provide, interest-free, further committed medium term funding of £300,000 to keep the Club running until proceeds from a future redevelopment of Twerton Park can be realised.
We want to make absolutely clear that, while the Big Bath City Bid and the current majority shareholders agree in principle that some form of partial redevelopment of Twerton Park is the only viable way of clearing the club’s debts and converting to community ownership, no major decisions about the form of the redevelopment have been set in stone.
If we achieve community ownership by raising £300,000, members and supporters will be able to have a say in how the redevelopment proposals are shaped and agreed on.
Read the official Bath City FC statement here.