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Member Owned Structure Approved

Thu, 11th Nov 2010 11:17pm

The Bully Wee has gone back to future. Formed in the late 19th Century as a members' club in 1877 and incorporated as a limited liability company in the early part of the 20th Century, Clyde FC has reverted to a member owned club status following an EGM at Broadwood Stadium on 11th November 2010.

Clyde have now become a fully democratic Community Interest Company, with a structure that demands transparent corporate governance within a one member one vote democracy. This move sets Clyde apart from any other senior club in Scottish football.

Club chairman John Alexander commented, "Football is a precarious business, we have agreed a new set of rules and that means that this club will never again risk its future on unsustainable dreams and debt. The club has developed a sustainable model of operation and this is enshrined in the new structure. The revised articles state that the club cannot borrow to pay wages or salaries of employees and the club cannot be conducted for private gain. The ethos will be to promote a successful football club that will encourage and develop sporting opportunities and activities in the community."

The Clyde Supporters’ Trust worked closely with the Club Board to bring this change by facilitating a consultation process which agreed the content of the new articles.

Trust chairman Gordon Thomson was equally delighted: "We were determined that our members were fully informed and not left in the dark. The interest and quality of debate demonstrated how supporters can be trusted to participate fully in the life of their club.  In many ways the change has been evolution not revolution. A one member one vote democracy is the culmination of an objective that we have sought for many years. We are delighted to see it now achieved. We believe our club will be safer and stronger in the hands of the many rather than the few. I hope others can follow our example."

John Alexander concluded, "This groundbreaking change is not a final step, rather it’s the first step in the rebirth of a great club."

Picture: Castlemilk Branch members Jimmy Thyne and Laura McCann present Gordon Thomson and John Alexander with a momento to mark the historic event, after the conclusion of the meeting.