The takeover of Banbury United Football Club by the Supporters led Community Benefit Society has been confirmed.
The transfer of ownership has been ratified by the Football Association, The Oxfordshire Football Association and by the Southern League.
The Community Benefit Society will now have control of the club and this will initially be overseen by the Interim Steering Group which has led the process for the takeover. Elections for a Management Board are scheduled to be held in November 2015.
Banbury United Supporters Club chairman and Interim Steering Group member Stephen Barlow said: “After months of hard work on the project it is fantastic to see the ownership of our great club in the hands of those who care about it the most, the supporters. The club has experienced some tough times in the past few years but, with the backing of supporters and the Banbury community, we are confident we can make Banbury United a club the town can be proud of.”
Membership of the Community Benefit has exceeded 160 to date and the Steering Group hope, that with the takeover finally concluded, more supporters will sign up in the coming weeks.
More than £8000 has also been raised through the CBS Community Share offer. Further details of the membership scheme can be found on the Community Benefit Society pages of the club website, www.banburyunitedfc.co.uk or by contacting the CBS membership secretary, Mike Seaton at email@example.com
As well as working on the transfer of ownership the Interim Steering Group has been busy preparing for the new season. Details of sponsorship agreements that were put in place subject to the takeover being approved, will be released over the next few days. There are other commercial opportunities available for companies wishing to be involved in the community project.
In anticipation of the transfer of ownership a number of supporters have helped rejuvenate the ground, including a complete refurbishment of the changing rooms, which highlights the benefit of supporters-ownership.
In addition the club are undertaking a refurbishment of the clubhouse which, when completed, it is hoped will increase the number of bookings and income. This work along with the changing room improvements has been supported by a donation from long-term supporter Stewart Green, who is the driving force behind Puritans Radio, which will offer extensive coverage of the club as well as other community activity.