CUOSC committed to change of control


NEWS & STAR COLUMN 11.11.21

CUOSC this week restated their position regarding change of control at United.

 We published a statement on our website where we tried to explain some of the difficulties we face. We would urge all fans to read it.

We emphasised that we are not an obstacle to the type of change most fans want.

Although we hold a 25.37 percent shareholding in the Blues we have demonstrated in the past we would be willing to dilute this shareholding for the right investor. This position is unchanged. CUOSC is committed to ‘succession’ but we have to tread a fine line where we do not put the club’s very future at risk.

The Blues are £2.4million in debt – money the club was very grateful to receive – and this loan issue is critical to things moving forward.

We agreed a ‘succession of ownership’ plan in 2019.  But it then stalled partially because of some significant variations

Succession has to mean a change of control. It cannot mean that the current ownership regime remains in place funded by others or significantly influenced by others.

For CUOSC to support any planned change of control to a conclusion we would need the interested party to set out clearly and convincingly their plans to take the club forward. We would also need, in particular, to see a commitment to transparency and to prioritising fan engagement.

We recognise the latest rounds of talks have gone on much longer than we wished and accept it is frustrating for everyone.

Our Holdings Board representative Billy Atkinson was told at the end of Julythat we might have some answers in ‘a few weeks’. We have asked again and are still waiting.

We will inform our members as soon as there are any developments. Once again please read our statement in full on our website.

It was nice to have that winning feeling back at the weekend after the Blues defeated non-league Horsham in the FA Cup first round.

It has earned us an intriguing second round home tie with Shrewsbury from League One. It is a match we are capable of winning and if fans turn out to get behind the team there should be a good buzz around Brunton Park.

First up is this weekend’s eagerly awaited clash with fellow Cumbrians, Barrow – although it’s still hard to call it a ‘derby.’

It is a 1pm kick-off so CUOSC’s regular pre-match supporters’ surgery will be between 11.30 and 12.30pm in the study centre, next to the club shop. It is a chance to call in and question some of our directors.