Date: 11th March 2010 at 4:35pm
Written by:

While we wait for any sort of good or bad news on the Melrose take-over, I thought I’d just find out a little bit more about this ‘Golden Share’ the Football League seem to enjoy going on about.

News-wires have been reporting a lot recently that County still can’t be taken over blah de blah ‘until the Football League agree to transfer the Golden Share.’

So just in case you’re wondering what this actually is, while we wait in anticipation…

It’s basically a considerably large sum of money (probably just a bit more than £800k) that has been building up through TV rights and the like. Seeing as though we’re in administration and everything, the Football League keep hold of this money until either

1) we exit administration or

2) April of this year, when the Football League will distribute the Golden Share whether we exit admin or not.

However, the Golden Share is more than just the money side of things. This luck Golden Share outvotes all other shares in the business, meaning that whoever is vying to take-over the running of the club (in this case, the Melrose Consortium) cannot do so until the League hands it over – meaning, basically, it’s our right to be a Football League side.

When Melrose does assume control of SCFC, the money in the Golden Share will be distributed to whichever teams are concerned to pay off all footballing debts. The Golden Share will then allow Melrose to take over the running of a club, and allow us as Stockport County to remain a Football League side.

Simple. Sort of.

Just something to get your head round while we wait and wait and wait, for this bloody deal to go through.

Animo Et Fide.