Co-op group act as rock in stormy waters

‘BE careful what you wish for…’ is an oft offered warning to the impetuously unwary.

The past week has given football supporters food for thought in this respect, as the latest, off-thefield happenings at Arsenal fill the back pages of our newspapers once again.

It is not that long ago that top of the ‘wish list’ for a large section of Gooners was the rapid exit from the club of Arsene Wenger, despite his many virtues and achievements.

That wish was granted – but now the supporters of that club find that they will soon have no say whatsoever in their club going forward, with the news that majority shareholder, Stan Kroenke, has moved via the purchase of the holding of Russian oligarch, Alisher Usmanov, to take full control of the club.

No big deal there, you might be tempted to opine, but the above mentioned movement of shares takes Kroenke’s holding over the 90 per cent threshold that allows him to legally force the remaining shareholders to sell their shares to him.

Again you may think that that is his right and pretty much par for the course in the dog eat dog world of Premiership football.

And you may have a point, but his actions will mean that Arsenal supporters, many of whom own token numbers of shares so as to be able to hold the club to account, will lose that ability – along with their forcibly removed shares, as Arsenal goes private and any pretence at transparency vanishes in an all too familiar welter of dollars.

Kroenke will then own 100pc of the club, and he will be able to do as he pleases with his newly acquired assets – and a quick glance in Coventry City’s direction shows us the perilous pathway that awaits in that respect.

So, as Arsenal fans unfurl their ‘Stan, you’re not wanted, get out of our club, you leech’ banners again, they will view the sums involved in the share transactions with understandable alarm, wondering perhaps just how long it will be before the £550m Kroenke will pay Usmanov for his shares will emerge as a debt that the club will be lumbered with.

Chilling thoughts indeed, but what about County’s situation?

Most County supporters acknowledge that a degree of caution is needed while seeking fresh investment in the club.

In this regard the current Stockport County board continues to seek further investment, but are adamant that they will not be lured into accepting the first offer on the table but will, via due diligence, look to ensure that any new investors are a good fit for County.

While most County supporters go along with that, it is essential that while the current board gets on with running the club, that supporters are kept fully appraised of matters.

In this respect the Supporters Cooperative remains the supporters rock in difficult times.

If you are not a member, please consider joining us.

Most County supporters realise that a degree of caution is needed while seeking fresh investment