Dale fans’ Trust welcome EFL’S investor checks

THE Dale Supporters’ Trust has welcomed a statement from the English Football League regarding the potential takeover of Rochdale AFC.

Earlier this week the EFL publicly confirmed they had yet to receive evidence that the potential new investors in the club had sufficient funds in place.

The EFL’S statement came days after the investors had met with club board members and representatives of the Trust, who were informed that a 40 per cent shareholding had been purchased.

However, after clarification from the EFL, it transpired that the shares had not been ‘acquired’, rather there was an ‘agreement to purchase’ in place.

The shares cannot be acquired until the share transfer has been signed off by the club – and for that to happen, the poten‘It is only right and proper that all necessary checks are made to ensure Rochdale does not get added to an ever growing list of clubs in crisis’ tial investors must meet stringent financial checks put in place by the EFL.

Trust chairman Colin Cavanah welcomed the process and said it was only right football clubs were protected by such goverance.

“We were delighted to see the EFL issue a statement earlier this week with regards to the attempted takeover at Rochdale AFC,” he said.

“For too many years, lower league football has been blighted by poor governance from individuals who should not have been allowed anywhere near a professional club.

“It is only right and proper that all the necessary checks are made to ensure Rochdale does not get added to an ever growing list of clubs in crisis.

“The shareholders of Rochdale AFC made it clear earlier on this summer that they would not entertain any takeover attempt that did not meet with their approval, and the same applies to any attempt to purchase shares through the backdoor as we have seen in the past two weeks.

“Questions must be asked as to how shareholders’ private details were obtained, and action taken if necessary.

“The club has come a long way over recent weeks, and whilst there are still improvements to be made, it is clear that there has been a genuine attempt to embrace the supporters and make them at the heart of the decision making process at the club. This has to be a long term strategy, but we are most certainly on the right path, and anything threatening that has to be a great concern to all supporters.”

The Observer revealed earlier this week that the EFL had advised the Dale Supporters Trust that proof of funds had not been submitted following a statement issued by the body representing fans which suggested the interested parties had snapped up a 40 per cent shareholding.

And on Monday, the EFL issued a statement of their own which read: “The EFL is aware of the continuing reports relating to a possible change of control at Rochdale AFC and wishes to clarify it remains in regular dialogue with representatives of the Club, as well as the Dale Supporters’ Trust.

“Throughout these discussions it has been made clear to all parties what obligations must be met under EFL Regulations.

“That includes the requirement that approval, as set out in Appendix 3 of the Regulations (the Owners’ and Directors’ Test), must be obtained from the EFL before acquisition of control, and not doing so renders both the club and individuals concerned subject to misconduct.

“At present no approval has been granted as a result of the specific requirements not being met.

“The EFL is still to receive any evidence of the source and sufficiency of funding on behalf of any potential purchaser, and, in addition, the Club is yet to submit the necessary Future Financial Information (FFI).

“The EFL will continue to work with the Club to ensure it can meet the necessary criteria with the long-term viability of the Club the primary focus in the interests of all key stakeholders, particularly the staff at the Club, supporters, and the local community.”