Brentford FC may change hands, with the supporters trust recommending a sale to Matthew Benham, but the plans for a new stadium at Lionel Road should not be affected, nor the parnership with Barratt Homes, say the club.
Members of Brentford Football Club Supporters Trust Bees United are being asked to support a partnership with Matthew Benham the clubs largest creditor which will see him invest at least £5 million in the League One club. The Bees United board are unanimously recommending that members support this opportunity, which will be their biggest decision since taking over control of the club from Ron Noades nearly four years ago.
At the end of the five-year period, Bees United can repay Benham’s existing £4.5 million in loans to the club and can buy his preference shares according to a pre-agreed valuation formula. However, if they don’t, Matthew Benham has the option to take over control of the Club by buying most of Bees Uniteds 60% shareholding and converting all his debt to more preference shares. Bees United would keep a minority shareholding and a golden share protecting against the sale of Griffin Park.
In any event, sya the club, Brentfords plans for a new stadium at Lionel Road, Brentford, remain unaffected. Both the Bees United board and Matthew Benham are fully supportive of the Lionel Road plans, which would transform the future of Brentford Football Club as a professional football club at the heart of the local community, comments David Merritt, Chairman of Bees United.