ROCHDALE SAVED WITH SALE TO NEW TRUST
ROCHDALE AFC will be sold to a trust set up by local businessman and entrepreneur Sir Peter Ogden, it has been announced.
The deal comes after months of back and forth discussion over the future of the club, which was feared to be on the verge of liquidation in March.
Rochdale’s board opened discussions with a number of parties interested in buying the Spotland outfit, but on March 25 the club announced the Ogden Family as their preferred investor.
It has now been announced that three representatives of the Ogden Trust have purchased shares in Rochdale, taking on a total of 69 per cent of the club’s total ownership. Sir Peter’s children Cameron and Edward Ogden and Tiffany Chawner will take on 23pc of the club’s shares each.
Current chairman Simon Gauge has also purchased shares, leaving him with a 21pc ownership of the club. Cameron Ogden will become co-chairman of the club with Mr Gauge. Jamie Willoughby and Adam Saul, who work for the Ogden Trust, are also joining the board as directors.
Current board member Jan Wormald has stepped down.
The Ogden Trust representatives have jointly committed that if any profit is ever made from the shares, it will be held for the sole benefit of the Rochdale AFC Community Trust.
As indicated in their offer to the Club, the Ogden Family intend to introduce a Golden Share which will be held by the Dale Trust. But, the introduction of this share will need to be approved by current shareholders.
Speaking as the deal was announced, Cameron Ogden said: “I am delighted to join the Board of Directors as co-chairman of this great Club.
“Our family has a deep connection to Rochdale, and we envisage the Club becoming an integral part of the local community.
“We do not underestimate the challenges that lie ahead, and we will work tirelessly towards achieving our ambitions.”
The new owners have committed to returning Rochdale to the football league within three years.
The club has just registered a mid-table finish in its first season in the National League.
They have also pledged to make the club financially sustainable within five years, regardless of sporting success, and say they will increase Rochdale’s ‘social value to the community’.