Bath City move closer to potential £6m investor group deal

Bath City have moved a step closer to a potential sale of the club after the board and supporters’ society unanimously backed an agreement with a £6million-backed investor group.

Led by entrepreneur Andrew Stalbow, the proposed investor group plans to inject around £6m into the Southern League Premier Division South side.

The agreement in principle will now go to all its shareholders for their final approval.

Bath City have worked with football advisory firm Carteret throughout a year-long process designed to “attract fresh capital and a strong management team to support the longer-term ambitions for the club”.

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Agreement

A joint statement from the club and Bath City Supporters’ Society said: “Both the board of Bath City Football Club and the Bath City Supporters’ Society Committee voted unanimously in favour of approving the agreement, which will now be recommended to all our shareholders for their final approval.

“The investor group is led by Andrew Stalbow, an entrepreneur with experience in mobile games and entertainment, and who would become the full-time chair of the club.

“The investor group comprises investors with impressive backgrounds in sport, technology, finance, games, healthcare and consulting.

“The seed round of approximately £6m will be invested into the Twerton-based club with the objective of building Football League ready infrastructure and enhancing the club’s connections with the fans and the local community.”

Richard Rivlin will join Stalbow on the newly proposed board as vice-chairman, alongside Abdallah Yafi as president and Ivan Hindshaw as director.

Bath-born and lifelong football fan Curt Smith, who co-founded English pop rock band Tears for Fears, is also part of the investor group and would become a club ambassador.

Exciting moment

Chairman David McDonagh said: “This is an incredibly exciting moment in the club’s long history.

“Many, many people have worked tirelessly over the years to keep this club viable.

“This past season, with relegation, has shown just how hard that has become without outside investment, and we’re lucky to have had a number of benefactors, who haven’t asked for the acclaim, but without whom this club could not have survived.

“The board have no hesitation in recommending that all shareholders vote to accept this deal.

“In Andrew and the team, we believe we have found great partners who have not just the vision and ambition to take this club to the next level but also have already secured an impressive amount of investment at this early stage.

“We look forward to working with Andrew and the investor group over the coming months.”

His potential successor Stalbow added: “We’re excited to get the opportunity to share our vision and ambitions with the fans shortly.

“We have spent a lot of time in Twerton over the past year, have made many friends, and we understand the responsibility that goes with our roles.

“We will work hard to unlock Bath City Football Club’s potential – we couldn’t be more pleased to be working with Scott Bartlett, and from the outset, we’ll invest into Scott’s team for what is an important upcoming season.

“And our plans include supporting the women’s teams and enhancing Twerton Park, all of which are integral to the Bath City community.”

Special

Ian McKay, chair of the Bath City Supporters’ Society, said: “Along with several of their investors, we’ve spent a lot of time with Andrew, Richard, Abdallah and Ivan.

“We know they understand what makes this club so special and are committed to remaining true to our community values.

“They proposed a seat for a supporter group representative on the new board and it has also been agreed to issue a community share and enter into a protected rights deed which gives the society prior consent rights over some fundamental aspects of our football club and enhanced consultation rights.

“This more than secures our short-term survival. It brings financial backing which will enable us to begin the much-needed process of investing into Twerton Park.

“Therefore, the committee are recommending that our members vote to approve the deal.“

The Romans dropped out of National League South last season and are looking to bounce back under manager Scott Bartlett this season.

Former Plymouth Argyle and Exeter City striker Reuben Reid is among the key arrivals at the club this summer.

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