Rushden to be run by supporters trust

[brighton_rebel]

Thought people might be interested in this story...

 

Max Griggs, the Dr Martens tycoon, has handed over Rushden & Diamonds to a newly formed supporters' trust.

 

The former owner-chairman has been attempting to sell the club for the past 18 months but after receiving no workable bids he contacted influential supporters to offer them control on condition that they launched the trust. They took formal charge at Nene Park yesterday.

 

Griggs, who has relinquished his shares and ensured the club is debt free, has also pledged £500,000 this year and £250,000 for next in an attempt to keep the club in the black. As a supporters' collective, the club's new owners are not permitted to take on debt.

 

Full story

http://football.guardian.co.uk/News_Story/0,1563,1499067,00.html

[Martin]

It is a good model but unfortunately few clubs will be able to benefit from the kind of generosity shown by Max Griggs. Since taking over he has ploughed in 25 million. He has left them with a great set-up and even if they can't maintain their current level they have a lot to be thankful for.