A consortium led by former England defender Ryan Bertrand has proposed an £87m minority investment in League One side AFC Wimbledon. The voting period for Dons Trust members to decide on the proposals ends on 17 November.
The proposed investment
The Dons Trust board presented the proposals to its members on Wednesday night. British technology expert Omar Mir is the sole funder of the proposed minority share buyout through investment vehicle Sloane Street Capital (SSC).
SSC would invest £16m on completion for a minority 34% of the shares in AFCW PLC, the company that runs the club. The remaining £71m would be spread over five seasons to the 2030-31 campaign.
Voting control and protections
The Dons Trust currently own 50.01% of the voting shares of AFC Wimbledon. Under the terms of the deal, the Dons Trust voting rights would be unaffected, and they would hold veto control of the Cherry Red Record Stadium freehold.
Other proposals include SSC taking two of the 12 seats on the club board, plus an observer position, while the Dons Trust would retain a veto over the club's name, badge, colours, ground and constitution. Stuart Fiertz and Oliver Ward would join the board if a deal is ratified.
If SSC sold its stake, the Dons Trust would have first refusal and could block who they felt were unsuitable investors. If SSC missed a payment, its share of AFC Wimbledon's value would stop growing immediately and control would return to the club within three months.
Football operations under the plan
If the deal is successful, SSC would oversee football operations, led by Bertrand as senior football advisor, but work within budgets and processes agreed by the AFCW PLC board.
Bertrand said: "AFC Wimbledon's story is unique in English football and it was built by its supporters. We felt at home from our very first meetings."
Bertrand said: "We are not here to change what this club is. We are here to help it go further on and off the pitch, for the men's team, the women's team and the academy."
Board recommendation and member vote
Earlier, members voted in favour of external investment on the proviso that fan ownership and control were protected. Since then, the board has considered more than 20 potential investors, with SSC emerging as the strongest.
AFC Wimbledon's lawyers have completed source-of-funds and background checks on the individuals involved in the consortium. Angus Fox, chair of the Dons Trust board, said: "The deal brings at least £87m into AFC Wimbledon over five years, while the Trust keeps a permanent majority of the votes, control of the Plough Lane freehold and a veto over everything that makes us who we are. We have set out the factors to weigh as plainly as the opportunities."
Angus Fox said: "The board recommends a yes vote, but this is our members' club and our members' decision."