Stenny - Very Interesting - Way to go?

[Perth to Paisley]

Long read but worthwhile

http://www.stenhousemuirfc.com/cic/

 

Extract

What are the problems with ordinary limited companies?

 

Prior to becoming a CIC, Stenhousemuir FC was constituted as an ordinary limited company, this being the normal business model used by most of the league clubs in the UK. Company law allows such companies to carry out business transactions that may be completely against the aims and wishes of their supporters and to the detriment of the club. It protects investors and shareholders but provides little or no protection to the community or its supporters, and will not act to prevent asset-striping and other undesirable behaviour that football supporters are familiar with.

 

 

They have a nice colour of strip as well!

[JamboAl]

Long read but worthwhile

http://www.stenhousemuirfc.com/cic/

 

Extract

What are the problems with ordinary limited companies?

 

Prior to becoming a CIC, Stenhousemuir FC was constituted as an ordinary limited company, this being the normal business model used by most of the league clubs in the UK. Company law allows such companies to carry out business transactions that may be completely against the aims and wishes of their supporters and to the detriment of the club. It protects investors and shareholders but provides little or no protection to the community or its supporters, and will not act to prevent asset-striping and other undesirable behaviour that football supporters are familiar with.

 

 

They have a nice colour of strip as well!

 

 

Here is another extract

 

What about loans made against assets?

Becoming a CIC does not insulate SFC from poor business performance, and its creditors. If SFC CIC runs its affairs badly and defaults on bank loans or other debts, then its creditors can sell its assets to get their money back.