Members of Banbury United Community Football Club Ltd met on Thursday January 23rd to discuss possible future directions for the Club. This followed ongoing dialogue between the Board of Directors and fellow members, and analysis of operational income in the first half of this financial year.

Three scenarios were presented for an informal vote: Scenario 1, to stay as a Community Benefit Society (CBS) playing football at the current Step 3 budget level and raising £140,000 per year from members; Scenario 2, to stay as a CBS on current income levels but accept inevitable drastic budget cuts; and Scenario 3, to move from a CBS to private ownership, enabling a situation whereby a new owner could, at the very least, fund the Club’s current working capital requirement.

In a separate question, members were asked if they granted the Board of Directors permission to explore a move to private ownership and to speak to potential buyers.

Eighty-nine per cent of votes opted for Scenario 3 (a move to private ownership) and 98% of members gave the Board permission to speak to potential buyers.

Wayne Farrell, Chairman of Banbury United Community Football Club Ltd, said, “Following open discussion in a packed Spencer Clubhouse last week, the feedback from our members is clear – we have to be open to private investment in order to secure the long-term future of Banbury United. Our current fan-owned model, in the unique set of challenging conditions faced by the Club, in today’s commercial football environment, does not work, despite the amazing financial contributions and blood, sweat and tears from our loyal sponsors, supporters and volunteers. We are taking responsibility for ourselves comfortably before the Club hits an insurmountable juncture. We run a tight ship. As North Oxfordshire’s largest football club, with a rich heritage dating back to 1931 and a strong fan base, Banbury United FC is a very attractive proposition. We look forward to hearing from investors who not only have the budget, considering our impending ground move and need for training facilities, but the right motivations to take the Club and our town forward.

“I would like to assure Banbury United members that they have not voted to sell the Club at this stage. They will have the opportunity to interrogate and vote on ownership propositions, and to reject selling the Club if proposals are unsatisfactory to them.”

The Board of Banbury United Community Football Club Ltd may be contacted, in strict confidence, via future@banburyunitedfc.co.uk. Expressions of interest should be received by February 28th 2025.

Wayne Farrell concluded: “We will report back to members at a meeting in early March. Absolutely no decisions will be made without member involvement.”

Important note: a transition from the current Community Benefit Society model to full or part private ownership (or any other ownership structure that may be presented) requires a special resolution vote at an Extraordinary General Meeting (EGM), as per the Club’s Society Rules. A minimum of 75% positive votes from the voting membership is required.

Banbury United Community Football Club Ltd is registered in England and Wales as a Community Benefit Society with the Financial Conduct Authority – Registration Number 7135.