Archive for the ‘Reclaim the Rovers’ Category

Investments by Raith Forum supporters groups to RRFC

Tuesday, September 3rd, 2013

The recent election of the supporters representative sparked a lot of discussion amongst Rovers supporters regarding the role of both the Raith Forum and the supporters representative. In order to clarify these issues we’d like to revisit the principles of shared ownership that were agreed by the various supporters groups several years ago.

During the 2005 “Reclaim The Rovers” fundraising campaign and subsequent takeover, the five supporters groups (Raith Rovers Supporters Club, 200 Club, Jim McMillan Club, Fife’s Finest, and Raith Supporters Trust) agreed that the Raith Supporters Trust would hold the collective supporters’ shareholding on behalf of the Raith Forum, due to its legal status as an Industrial & Provident Society. The Raith Supporters Trust would subsequently also administer the ongoing process of electing a board member to represent this shareholding on the board of New Raith Rovers Ltd.

At the time of the takeover, the funds raised by supporters during the campaign purchased a shareholding in New Raith Rovers Ltd of around 14% of the shares issued. As a result of new investment in recent years our collective shareholding now represents approximately 11.5% of the issued shares in New Raith Rovers Ltd.

A clause in the Memorandum and Articles states that a shareholding of 10% guarantees representation on the board of directors of New Raith Rovers Ltd, therefore it is essential that we maintain this level of investment.

In March 2006 at a meeting of the Raith Forum, it was agreed that all future contribution of funds by the member groups should be made as investments and held in a single shareholding by the Raith Supporters Trust on behalf of the supporters groups. A single shareholding gives the supporters the strongest voice possible within the company structure, while also ensuring that the supporters’ contributions can directly support the running of the football club.

Since 2006 further investment has been made via the Raith Supporters Trust by a number of the Raith Forum member groups and also by other non-member groups (most notably Fife’s Finest). However, in some cases shares have been purchased by supporters groups directly or made in the form of donations, and therefore cannot contribute to maintaining the fan’s collective shareholding.

It is critical that we continue to invest in the club through a single shareholding and therefore strive to channel the vast majority of our contributions to the club through this route. The football club board have made it clear that they are very comfortable with the principle that contributions by supporters groups can be treated as investments in return for shares.

This may seem like a relatively unimportant issue at present as we have a very positive relationship between the board of the football club and the supporters. Our own experience in the years leading up to the 2005 takeover, and the experience of fans at other football clubs where the relationship has not been so positive should be a clear reminder to us how fortunate we are at present. It is in these tougher times that issues of ownership and governance take on greater importance to us all, and maintaining the strongest voice possible during the good times is part of our “insurance policy” in case we ever find ourselves in the face of another crisis in the future.

New Raith Rovers FAQ

Friday, March 24th, 2006

On 30th December 2005, a consortium of investors under the legal banner of New Raith Rovers came together to buy the majority stake in Raith Rovers from West City Developments.
We would like to give our sincere thanks to everyone who contributed and helped to bring the campagn to a successful conclusion. (more…)

Rovers Reclaimed!

Friday, December 30th, 2005

The deal to secure the future of Raith Rovers was concluded today. The New Raith Rovers consortium, of which “Reclaim the Rovers” is a part, now owns the controlling interest in Raith Rovers and Stark’s Park. The news brings to a successful conclusion 10 months of hard work for supporters in raising money and helping put together the deal. (more…)

About the deal…

Thursday, December 22nd, 2005

Everything you ever wanted to know about buying Raith Rovers and weren’t afraid to ask! (more…)

Rovers Buy-Out Moves Forward

Thursday, December 15th, 2005

The Community bid to secure the long term future Raith Rovers has taken 2 significant steps forward. Fans who have taken out loan fund notes have voted unanimously to release the cash to Reclaim The Rovers to support the bid. The 100% backing came in a postal vote conducted over the past fortnight. And the backing came as the fans’ representative on the board of the new company was formally unveiled. (more…)

Steps Towards New Raith Rovers

Thursday, December 8th, 2005

The community consortium bidding to secure the future of Raith Rovers has taken another step forward with the formation of New Raith Rovers Ltd. New Raith Rovers is the legal vehicle into which the bid’s backers will invest. The intention is that when the deal is concluded the new company will control the football club and will part own Stark’s Park with one of the investors. (more…)

Rovers’ Fans Hit Target

Friday, October 28th, 2005

Rovers’ fans have taken a massive step forward in their campaign to secure the future of their club. We have hit our initial fundraising target of £100,000 this week after a successful collection was held at the Morton game on Saturday. The “Take Note” appeal raised £4,169 with away fans contributing almost £400 to that total. (more…)

MP Backs Campaign

Thursday, August 11th, 2005

Local MP Gordon Brown has given the “Reclaim the Rovers” campaign a massive boost on the biggest weekend of the campaign to date. Mr Brown attended the Sunday Funday event in Kirkcaldy Town Centre with his family and explained why he is backing the community’s bid to secure the future of the club. (more…)

“Reclaim the Rovers” website launched

Wednesday, June 22nd, 2005

Reclaim the Rovers logo

The “Reclaim the Rovers” campaign brings all the supporters groups together in order to raise the funds to bring Raith Rovers FC into local community ownership. This site brings together all the news and information from the campaign so that all supporters can keep up-to-date with what’s going on and how you can make the difference.

Click here to go to the site now.

Statement in regard to potential buyout of Raith Rovers

Tuesday, March 15th, 2005

Read the statement here