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Re: KBH

By Taimour (WeHateWombles)29/5/2023 10:41Mon May 29 10:41:39 2023In response to KBH

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Happy to chat in person next season. There's lots to discuss. We thought long and hard about structure, the legal entity, how best to collectively muster funds, the transition to wider ownership. That wasn't the obstacle. To reiterate: over half a year we met with delay by the board, lack of clarity and a general absence of serious intent to engage. At least one board member was dead against any proposal for restructure. It was profoundly depressing given our sincere efforts.

Ultimately the board plainly didn't want to give up their current degree of control, let alone surrender complete ownership. Don't beleive their claims that they're "willing to walk away". They had the chance for an exit and didn't take it. It's worth noting that owners of a number of other non-league clubs in recent years have decided to pass ownership over debt-free to fans or other entities willing to invest. That is consistent with being custodians planning for the long-term.

The Ks board wanted money for their shares and they want their loans back (most of that cash gifted to Dynan was loaned by Hayward, a colossal waste of money that now has consequences). They were also resistant to the idea of not taking money out of the club while we remain homeless. Various proposals were made in order to find common ground.

At the final phase they then said there were at least two other interested parties (no doubt to spark a bidding war for shares). Nothing has yet come to pass (Ben Flatt seemingly has not bought a shareholding and his position is ambiguous).

Where do we go from here? Coalesce and organise around a Trust that holds the the Board to account? Perhaps. But it can't be a body that simply helps the Board to maintain the current course/hands money to the club without conditions.

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