Following months of discussions, the board met yesterday to sign off one of the biggest changes in the clubs history.
After a turbulent few months off the field following the change of chair person, the club identified that any type of individual ownership is detrimental to the football clubs longevity and in order to be sustainable going forward, the club needed a solution.
Following multiple meetings with the FSA (Football Supporters Association) the club has opted to become a Society for Community Benefit.
What Does This Mean?
This means the club will never be owned by one individual, but by you, the fans.
The board is elected from a membership scheme, which is wholly democratic, eradicating any one individual from any detrimental behaviour within our club.
The society will put the fans and the community of Colne at the heart of what the clubs does.
This will lead to openness and transparency on how the club is being run, including the club finances.
Each member will get a share in the club, and more importantly will have the option to voice their opinion in a democratic vote.
Currently there are 46 fan owned clubs in the England and Wales, and subject to approval the club will become number 47.
The club still faces a tough road ahead, but this process puts the power into the hands of the fans and the town's wider community.
An information evening for all fans will be held at the earliest opportunity and more information will be available in the next few weeks. We strongly encourage you to come and find out more information on the evening.
The board are confident that this structure leads to a very positive future for the football club.