Brentford FC Limited, of which Bees United control the majority shareholding, have made the following announcement this morning (Wednesday) regarding the Lionel Road Stadium project.
It reads:
As supporters will be aware the Club has been in discussions for a number of years with various parties about its plans to develop a new stadium on a site in Lionel Road, Brentford.
In order to create specific responsibility for this project the Brentford FC Ltd Board has set up a new subsidiary company called Brentford FC (Lionel Road) Ltd, which has two shareholders:
- Brentford FC Ltd with a 99% interest.
- Brentford Football Community Society Ltd (Bees United) with 1 'golden'share, giving certain veto rights over the actions of Brentford FC (Lionel Road) Limited. In particular this golden share, which represents 1% of the issued share capital, gives Bees United the right to a veto over any issue or transfer of shares, the disposal of assets over a material level, the use of land for any purpose other than that of a sports stadium, the charging of assets, the implementation of any liquidation proceedings and the payment of any dividends. In addition Bees United have the right to appoint a minimum of one director to the board of Brentford FC (Lionel Road) Limited.
The directors of the new company are:
Greg Dyke (Chairman), Brian Burgess, Chris Gammon (Company Secretary) and Ian Jones, all of whom are unpaid.
As and when plans for the project progress, the team will be engaging in confidential commercial discussions to try to make the dream of a new community stadium a reality. As is normal for such negotiations these will have to remain strictly confidential. It is not expected, therefore, that it will be possible to disclose any further details unless and until specific agreements have been reached.
The BFC Board
Ends