No not the spurious monthly rumour.

The Football League have just announced changes to rules when clubs go into administration. The deduction is now 12 points but most interestingly supporters trusts will automatically be given an opportunity to take over the club.

Makes all those who sneered and have tried to cause trouble regarding the setting up of ours look a bit daft as this is a real nod is the direction of trusts and fan owned clubs from the FL.

Good... What about dome people's attempt "to start their own.. I suppose they'll be dead in the water once " the" trust is ratified ..

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Good news should mean dodgy owners cant kill cllubs anymore.
Looking forward to our trust getting off the ground can only be a good thing for all Poolies.

Is it me or has Ken seemed more agreeable since the trust started setting up, Ronnie is being allowed to manage and sign players before the season starts

Far be it from me to defend them but they have never failed to respond to an email and will talk to us once its confirmed as a legal entity. That by the way should be next week some time.

Oh, and Peter Mandleson; polite, constructive and responds to a long email conversation within half an hour at the outside. Fair play to the man.

Now then Mandelson was the last time we punched above our weight in Westminster.. Better than old Ted or the one that followed him..

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Well said. Great thread. Well done in all areas here.

With whom does the trust have to be registered for it to be the "official" trust, i.e., the one that gets first dibs at a takeover? What happens if there are two or more contenders for that status?
Is there already a mechanism for registering the trust not just as a legal entity but as one officially recognised by the FL or whoever?

Right then.........

All football trusts are regulated by the FCA (Financial Conduct Authority) and overseen by Supporters Direct, a government and cross bench supported recognised organisation.

The Trusts themselves are 'Community Benefit Societies' essentially a co-operative. This means that its all about OMOV and shares being issued to the community singularly. So no matter what money you put in, you get one share and one share only. The FCA come in because you are essentially forming a company but the rules are much much stricter and because its a financially regulated organisation it falls under the FCA's jurisdiction.

The short answer to your question is that two trusts would never get approval. You chosen team is part of the registration form and if one already exists then another one would be knocked back.

What is OMOV? Give the friggin initialisms a rest. Ta.

one member one vote

Old-fashioned washing powder brand. Sexually frustrated housewives used to put a packet on the kitchen windowledge when their husband was at sea/down the pit, as a signal to suitors who fancied a bit of extra-marital carry-on.

Stands for 'Old Man Out'.

I thought Omo was a Hartlepudlian uphill gardener

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