Posted on 7th July 2022
York City: Supporters secure 49% of club in new partnership
York City supporters are the latest to gain a significant stake in their club after buying out the previous majority owner of the National League side.
This week York City Supporters’ Trust bought 100% of the previous owners shares – JM Packaging – and sold 51% of the club to its new majority shareholder Glen Henderson.
Both parties say they have made a substantial cash investment into the club and the deal sees the trust retain a 49% stake – having previously held 25% under the previous owner.
Yesterday, they said the club “will now be jointly operated by Glen and the supporters’ trust in a collaborative spirit built around mutual trust and a strong emphasis on customer service.”
Trust chairman Mike Brown said: “As guardians of the football club since 2002, the trust board are proud to have secured a change in ownership and investment that provides the club with a fantastic opportunity to grow and flourish.
“It’s been a tough journey at times, but we have been resolute in our objective of delivering a new fan focused ethos at the club.”
In the coming days, the shareholders will appoint a new board of directors initially consisting of Glen Henderson as chairman and supporters’ trust Board Member Alastair Smith as chief executive.
FSA chair Malcolm Clarke said: “On behalf of the FSA, I warmly congratulate the trust on this achievement and wish it and the club all the best for the future. The FSA is there to help if needed.
“I hope that fans will join and participate as fully as they are able to in the work of the trust in this new era.”
The supporters’ trust board and a number of volunteers will assist them in reshaping various aspects of how the football club operates. In due course, additional directors will be recruited.
“I am thrilled to be working with the Trust to build a sustainable future for the club, all the while aiming to get York City back into the Football League,” Henderson said.
