Fan Share Scheme Update #2

Since our last message a week ago, we have been inundated with questions and feedback from scores and scores of you. Thanks so much for that. As a members’ organisation, we always want and need to hear from you, our members. You can still submit comments here and we’ll continue to pick them up.The overwhelming majority of you said you back our stance on this. Yes, you very much want a Fan Share Scheme. But it has to have equal voting rights and you agree MUST are quite right to insist on that.Based on your questions, there are some other issues you want us to answer for you, so below we respond to some of the most frequent questions received.Note that the below answers are based on the MUST view on what any Fan Share Scheme should deliver to get our members’ backing, rather than any specific proposals which have been put forward in discussions.

Why don’t you force the Glazers to sell the club?Lots of fans want the Glazers to sell the club. But, quite simply, we cannot make them. We live in a country where people have freedom to buy or sell things, and there is nothing we can do to make this happen. That’s why we’re prioritising building increased fans’ influence both over the current owners and whoever else might be the majority owner of the club in future. That’s why the Fan Share Scheme could develop into something powerful. Because there is no-one the Board of any company listens to more than their shareholders. So to increase our influence, we need to be those shareholders – but only if we get equal voting rights.Won’t this scheme just put money into the owners pockets?No. We proposed that the money raised from the share sales go to the Club, not the owners or other shareholders, and is used to fund projects and investments backed by the fans.How much will shares cost? Will this only be for wealthy fans?The minimum purchase would be one single share which based on current prices is around £10. We want as many fans as possible to be shareholders. Many supporter shareholders with smaller stakes is far better than a few with large shareholdings. Indeed, we believe there should be a cap on voting power to stop any single shareholder being able to dominate the collective voting of the fan shares.What will you do if you cannot get agreement on the FSS?All options are open. We have spent years organising protests. Sometimes they help, sometimes they don’t. Whatever is decided it will reflect members’ views after consultation but right now, our priority and focus is on getting an agreement on this scheme which is by far the best way forward for all parties.Will MUST support any protest?MUST has publicised EVERY major protest in the last 20 years but we have also rightly declined to promote many too. We have always applied criteria to support for such protests and they include – firstly what is the objective? Is it in line with the objects of our organisation? Will it be lawful and peaceful? Is the aim achievable? Are the people promoting it credible and able to command wide support? Can they be trusted in their intentions and motivation? Do they have a track record or are they potentially fly-by-nights who’ve come from nowhere and will likely disappear? And in the end – most importantly – will it command the support of our members?Please do keep the questions coming and once a week we’ll round up the most common ones and try to answer them. And in the meantime, we try to apply as much pressure on the club as possible.Many thanks for your ongoing support.