CLUB STATEMENT: NEW BOARD OF DIRECTORS Club News The Barnsley Football Club Limited (Club) today announced a reconstitution of the Club’s board of directors, following changes in ownership at its parent company, BFC Investment Company Limited (BFC). Continue reading on the official site...
Wow. The Parekhs were meant to be properly loaded. Amazed how everything has been resolved so quickly though.
This is why we’ve had the radio silence from the club. It all makes sense now. Could be an interesting summer!
Does changes in ownership = (a) they've gone or mean (b) they are still owners individually as shareholders but stepped back from day to day running? Obviously either is good news, would just prefer that it was (a).
The changes brought about Brexit were the start of the end for PMG. This is hopefully the start of a return to the club as part of the town, the community and the fans.
There's more detail to come here. Who are the investors? It reads as if PMG had a period of managing the club on behalf of the investors. As I'd suggested numerous times, I was always wary about whether these people actually owned us. It would seem they didn't. And I guess given the lash they've made of things, the investors have taken control of the investment vehicle, ousted Conway et al and are now directly involved in the clubs management. The questions remain.... who actually owns BFC through the HK investment vehicle? Seemingly a positive step, but much to try and unravel still.
My take on this is they are still shareholders but are off the board, i.e. they have no decision making capacity…and without that, is there any point in them retaining a stake in the Club? Hopefully this begins the process of them selling their shares. But either way, they have fk all control in how the Club runs. That’ll do for me