Leeds Fans Utd is a private limited company which intends to secure a stake in Leeds United F.C.[1][2] The funding for the project comes from ordinary Leeds fans, who collectively acquire shares in the company through the Leeds Fans Utd Community Benefit Society.[3] If the company is successful in acquiring a stake in the club, the society will be able to have a voice at director level of the Club. If the company cannot acquire a stake, the society will return fans at least 90% of their investment.
The company's Executive team is now led by Sharon Reid, as CEO, and Brendan Meehan, as Chairman [4] At the end of October 2015, it had reached an agreement in principle with Leeds United owner Massimo Cellino to buy a majority stake in the club.[1][2] When Mr Cellino was asked to commit to an exclusivity period for the deal, he changed his mind.[5]
With over 2,000 members who have committed funding, it was stated at the Leeds Fans CBS Annual General Meeting on 3 December 2016 [6] that the group remains in touch with many parties who have the desire and ability to invest in Leeds United along with LFU immediately or within the medium term; the directors noted that achieving Fan Ownership in Leeds United was always known as being potentially a long term effort (despite early success with Mr Cellino as above) and a resounding 87% of its investors voted, during the summer, to continue with these efforts. New directors joined the board at the AGM.
References
- ^ a b "Massimo Cellino: Leeds chairman agrees to sell club to fans - BBC Sport". BBC Sport.
- ^ a b "Leeds Fans United are set to buy a majority stake in the club | Football News | Sky Sports".
- ^ "Leeds Fans Utd CBS | Fan Ownership of Leeds United".
- ^ "Meet the Executive Team | Leeds Fans Utd".
- ^ "Massimo Cellino: Leeds chairman calls off plan to sell club to fans - BBC Sport". BBC Sport.
- ^ "Dedicated to buying shares in LUFC - Leeds Fans Utd".
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