Ex BBC Boss set to take over at Griffin Park
Bees fans complete takeover at Brentford FC
In what was described as 'one of the most momentous days in Brentford Football Club's history' the Trust formed by supporters, Bees United, have assumed ownership of the club.
The takeover has been planned for months, but there was a surprise in store when the club named former BBC boss (and Manchester United director) Greg Dyke as their new Chair.
The supporters have agreed to take on the debts of the League One side, currently estimated at around £8million. This includes a bank overdraft of £4.5 million, which will be reduced to £2.5 million in order to reduce interest payments. Former owner Ron Noades, widely blamed for building up the debt in his four years as owner, has lent the club £1 million, and Hounslow Council have stepped in with £500,000. The Trust have invested a further £1million, built up through supporters donations and membership fees.
The takeover has ben on the cards for some while, although negotiations with Ron Noades have been taking place up until the last minute. However the identity of the new Chair will be a bigger surprise. Greg Dyke was born in Hounslow and now lives in Twickenham and his brother Ian was a member of the Brentford youth squad. Former Chair Eddie Rogers remains on the board, where he will sit with Bees United Chair Brian Burgess plus two other investor directors and two Bees United members. Trust members will vote on who will be able to join the board.
The re-financing means that the new board will have to come up with around £200,000 a year in interest payments, although the club point out that this will be a reduction in the £300,000 that the club is paying at present. The side are presently enjoying success in League One and face Premier League side Sunderland on Sat 28th January in the FA Cup.
20 Jan 2006
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