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With our Southern League Clubs looking to one day attain National League Status here's a quick update on how Hereford United's Supporters Trust is close to being the biggest Shareholder. 

After the club went bust and reformed, four people invested £50,000 into the club to restart it, the money used to attract players, pay licences, safety checks, rent, etc. Over the years two more people have invested, one of £50,000 another £39,000.

This money is considered a gift to the club and will never be repaid.

It was agreed that the supporters would match fund this amount of £289,000 plus one extra £1 share to become owners of the club.

There was a great rush to join the Supporters Trust of an annual fee of £10 plus a £1 for children and there were something like 1500 members. To buy shares, the membership fee and any fundraising by the Trust would be used.

Formed in 2014, Hereford jumped the leagues paying for that level of players out of gate money, so making a profit. As we climbed the leagues we had to start hiring players from out of the area which gradually used up the profits from match days and the investors £289,000, COVID not helping.

As with all things, levels of interest fell and this season the membership of the Trust stands at 323, down only 4 over the year. During COVID we lost 500 members.

Also due to COVID it was agreed that our share capital could be used by the club to help keep the team running. 

We have had to change the team's set up using last season's under 18's, loan players, players looking to restart their careers to fill the ranks. It disrupts the team, hence not doing very well over the past two years 

I don't know how much is left of our capital but the good thing is, as a Trust, from fundraising, we made a profit of over £30,000 from 50/50 draws, Golden Goal times, Lottery, etc. This has enabled to buy shares and our standing is now 280,000 shares, 9,001 to go, to own the club. 

The next thing will be the fight to change the number of Directors from a ratio of 4/3 to 3/4 so we can take control. 

So at National League North level, unless you have a sugar daddy, each week you get a makeshift team, and you still watch your bank balance drop. I have no idea if the club will be sustainable unless we can save money or maybe find a rich sugar daddy willing to invest (donate) to the club.

 

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  • 1 month later...

Just before Christmas the Hereford United Supporters Trust transferred £9,000 to the club to become the main Shareholder of the club. 

We now own our own club, all 323 of us members!

Taken over the board with an extra Director.

No splashing the cash for short term gain. Slow and steady progress to climb up the National North. Live within our means. 

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