Cheltenham Town FC shareholders looking to sell stakes
The football club says it's looking for significant investment
Last updated 1st Oct 2024
Cheltenham Town’s chairman David Bloxham said three of the football club’s shareholders are willing to sell their stakes – as the side seek new investment.
In a statement, the chairman said it would be in the club’s best interest to seek new investors to take the club forward.
Historically, Cheltenham Town has been owned and managed by local supporters and businesses looking to give back to the community.
“The football world is changing,” said David Bloxham, “A great many Football League clubs are now in foreign ownership or benefit from the patronage of the super-rich and we have found it increasingly hard to compete with those clubs.
“In an ideal World we would love the Club to remain in local ownership but the Board and owners understand that at this juncture the Club is in need of significant investment - particularly with regard to infrastructure at the stadium and training ground - so given the sums of money required the Club may need to find investors from further afield.
“However, we should make it clear that the Board and owners will be undertaking a vigorous process to try and identify the right people to take the Club forward.
“We are only custodians of the football Club and our job is to make sure that we pass it on to those who will nurture and develop it for the good of our supporters and the local community.”
The club said they are now making the first steps in initiating discussions with potential investors.