Chairman Kris Machala is set to become the majority shareholder of Aldershot Town FC.
Machala is purchasing 450,000 more shares, taking his tally to 510,000 of the one million available, as part of chief executive Peter Duffy’s [pictured] moves to strengthen the finances of the club.
Machala will inject £250,000 into the club, while a £200,000 long-term loan he made to the club last year will be exchanged for the other shares.
With investors “extremely hard to find” and few club assets to talk of, Duffy said that selling shares was the only viable way of raising money to strengthen the balance sheet.
Duffy said that 50,000 shares will remain available for purchase. Potential buyers would include new directors and/or the Supporters’ Trust, who in the past have wanted to buy shares. Duffy recently said that he could not sell to the Trust but that situation has now changed. “I was unable to sell as I didn’t know how many shares Kris wanted to buy,” Duffy said. “It would not have been right to sell a small amount, without revealing what was possibly on the cards regarding the majority of the rest of the shares.”
To read the full article, click here.