Since the announcement of the 1899 scheme by SUFC we have been contacted by many members about the scheme as well as the terms and conditions that apply to it.  Members have had a number of comments and questions about how the scheme would operate.  We sent out a list of the initial questions to our members on Wednesday evening and we had a number of responses posing more questions.  We have now added them to our initial list and we have sent them on to Lee Turnbull as we the club has said it is going to issue a series of FAQs in due course.  We appreciate that there is some overlap in the questions, but felt it would be helpful for the club to have sight of the points raised by Trust members.

The questions raised with us are the following.

1. Who currently owns the stadium?

2. How will the transfer of ownership be achieved from the current owners to the new ownership structure?

3. If a supporter pays the club £1899 where does that money get deposited?

4. When does the transaction to complete the purchase of the stadium occur?

5. Who / which company will receive the proceeds of the share purchases?

6. What is the corporate structure of the new company that will own the stadium e.g. is the new company a company limited by shares or a company limited by guarantee?

7. Have the articles of association for the new company been drafted?

8. How is the number of shares in the new company controlled?

9. Will there be multiple share types, and, if so , what are they?

10. How will the directors of the new company be appointed?

11. What happens if not all shares are sold?

12. Is the land on which the stadium is located included in the purchase and what portion of land around the stadium will be acquired?

13. Will use of the access road, the stadium perimeter and the car park be guaranteed to the new company? 

14. Will the new company have any responsibilityfor stadium upkeep and any improvements?

15. What are the planned revenue streams for the new company to finance the upkeep and maintenance of the stadium?

16. Who will be responsible for additional events at the stadium?

17. What thought has been given to the potential sale of the land around the stadium?

18. The scheme on the club website mentions a 999-year lease, who has decided that the football club will have a 999-year lease?

19. How will the costs associated with the Lifetime 1899 Membership be financed?

20. How will the new seat allocations in the Mortz stand be determined and what will happen to supporters who are already sitting in that area?

21. Will shareholders be able to purchase seats for family or friends in the new seating area or will it be exclusively available for 1899 members?

22. In what part of the stadium will the new bar be located and how will the costs of establishing the bar be met?

23. The membership scheme is described as a “lifetime package” and also as “fully transferable”.  What is meant by these terms?

24. Is the scheme only applicable to individuals or can supporter organisations purchase shares?

25. What would happen if the club and the commercial operation were to wind up, or for any reason the fan-owners were left with a crumbling stadium and no team?  What rights would the shareholders have?

26. What voting rights will 1899 members have in relation to the shares and will there be an upper limit on the number of shares an individual can own?

27. If SUFC wished to relocate from Glanford Park, but needed to sell the stadium to finance the move, would the 1899 shareholders have a vote on such a sale?

28.  What has happened to the SUFC shares that were “rationalised” under the previous owner?

29. Will the ground rent paid by the new company remain a fixed peppercorn rent for the whole of the 999 year term or is there a review clause in the rental agreement?

30. Will SUFC continue to service all of the running costs of the stadium for the new 1899 company?