Time to map out a plan for Villa's future
- Says blogger Matthew Turvey
The response to Jeremy Peace’s plan
Wednesday 7th July 2010, 9:05AM BST.
Albion chairman Jeremy Peace’s plan to extend his shareholding has been given a lukewarm response by fans’ representative Neil Reynolds.
Mr Reynolds, of the Shareholders For Albion group, does not want to see the club fall deeper into the control of one man.
Peace already has a 56 per cent controlling interest in the Baggies but has now set up a new parent company which sees him offering the 760 remaining shareholders £1,200 a share.
The Baggies chairman is also giving them the chance to retain transfer their shares into the new parent company, but Reynolds believes the offer has caught his members by surprise.
Reynolds said: “The general feedback so far as been one of bemusement and surprise – firstly because it’s actually happening and secondly because of the timing, when many people are still on holiday.
“I have every confidence in his running of the club but I would not want Albion to go the same way as other clubs who have gone completely privately owned and incurred huge debt.
“This is the fourth time in seven years that we’ve had changes to share ownership. I would hope it’s the last time.
“I, like so many others, will be retaining each of my 20 shares for the new company.”
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