Thursday 8th April 2021 could one day prove to be a major milestone in the history of Newcastle United, and in particular the club’s magnificent but long-suffering fans.
It is the day on which the Newcastle United Supporters Trust (NUST) announced a significant initiative – the 1892 Pledge inviting fans to band together to build up over time a fund which would be used to buy a stake in the club should Mike Ashley eventually sell to a new owner.
Worth noting that this is not about raising enough money to buy the club outright. The current selling price, as quoted to the Amanda Staveley Consortium is £300M which is way out of range as a sum fans could raise. However if for example we raised £3M, which is considered feasible over time, this could allow the fans to buy a 1% stake.
Having looked at the detail of the initiative, it is quite obvious from the sheer professionalism of the presentation that a lot of thought and hard work has gone into its development.
Many of the questions which might otherwise be forthcoming from fans are largely already addressed by the management arrangements which have been put in place.
For example, how and where will the money contributed be held and managed, and who would be responsible for it? – this is covered by the appointment of four “Guardians” separate from the NUST Board and these are well known, trusted individuals such as ex-United full back Warren Barton (centre partin’), well-known Journalist George Caulkin, Ian Mearns MP for Gateshead and Lee Humble, a chartered accountant who brings the necessary financial know-how to the table.
The 1892 Pledge Scheme won’t deliver instant results and is accepted by NUST as obviously long-term. However as the ancient chinese philosopher Lao Tzu said “The journey of a thousand miles begins with one step” In other words however difficult a task is, you can only complete it if you first start it.
The concept of fans being involved in the club in this way has been talked about for a number of years and now NUST have taken the initiative and the first step of the journey has been made.
Now it’s up to Newcastle United supporters to decide whether they want to take part and back this scheme.
Well done to the lads and lasses at NUST for all the hard work they have put in to give us this opportunity.
The press release which introduces the 1892 Pledge is set out below:
Supporters of Newcastle United are launching a bid to buy part of their club.
Newcastle United Supporters Trust (NUST) is spearheading the drive to take a stake in the future of Newcastle United Football Club.
The Trust, which has more than 14,000 members, is asking United supporters to pledge small amounts of money for a fund that aims to buy part of the club when it is sold by the current owner, Mike Ashley.
The 1892 Pledge – named after the year Newcastle United was formed – has been three years in the planning and has already attracted support from the worlds of football, politics and the media.
Through the 1892 Pledge, NUST aims to build a pot of money that can either give supporters a small share of the club if it is sold while in the Premier League or see fans ready to step in to help save the club in the event of relegation and the financial consequences that could see a change of ownership.
Greg Tomlinson, Chair of the Newcastle United Supporters Trust said: “For decades, fans have been told they are the lifeblood of the club, but when major decisions are made, they are always left out.
“It is an unfortunate fact that in football, as in life, money talks. Therefore, we feel that if we as fans really want to be an active part of conversations that will dictate the future of Newcastle United, we have to put our money where our mouth is.
“Raising funds will give us the financial backing to make our voices properly heard as and when the club is eventually sold.”
Alex Hurst, Trust board member and the driving force behind the 1892 Pledge, said:
“The 1892 Pledge could mean we, as fans, can invest in our club, that could be in the form of a percentage stake in NUFC if it is sold whilst in the Premier League or, if things take a turn for the worse and the club’s fortunes sink further, we would be there standing ready to provide investment and potentially be part of a buying consortium.
“Supporters must have a say in what happens to NUFC and we believe this campaign will give us a real voice in the running of the club – not just now but for years and decades into the future.”
Fans are being asked to pay in what they can, when they can to fund the 1892 Pledge.
Supporters are encouraged to set up direct debit payments through a dedicated website – www.1892pledge.co.uk – which will display the total amount raised by fans on a daily basis.
Alex explained: “It is important to stress we are not asking fans to part with their life savings or cash in their pension pots – this is not what Pledge 1892 is about.
“Instead, it’s about making small, regular donations of a few pounds a month (or more if people can spare it!) which will build up a fund over time.
“It’s also about bringing NUFC supporters together in a common goal, not just fans in the North East and the UK but all over the world.
“We believe there is nothing that fans of this club can’t achieve when we are truly united and this is a chance for us to prove it.”
The Trust has appointed four ‘Guardians’ to safeguard the money raised and ensure it can only be used for one of two purposes.
The first purpose is to buy shares in Newcastle United FC.
The second is that if NUST fails in its attempt to buy a part of the club when it is sold because they have failed to raise the funds or a new owner did not want to sell a part of the club to supporters then all of the money would be donated to charities based in the North East of England.
The Guardians of the fund are:
• Warren Barton, former NUFC and England defender
• Ian Mearns, MP for Gateshead
• George Caulkin, North East football reporter for The Athletic
• Lee Humble, chartered accountant.
Alex Hurst said: “All four of our Guardians are passionate about Newcastle United and its supporters.
“They believe, as we do, that the future success and viability of the club depends on the fans – even more so with the financial problems brought about by the pandemic.
“Before Covid-19 hit, some people were confident that Premier League clubs could essentially survive on TV money, but that has been blown out of the water over the past 12 months.
“The financial situation faced by clubs across the league, not just NUFC, demonstrates just what a vital role fans play.
“We already have power and financial clout. Imagine what we could do with a proper stake in the club.”
In return for the fans’ financial backing, NUST would like new owners to allow the Trust to work within the club, either through an executive board position or another role which can allow the Trust, its members and the supporters of Newcastle United to influence the club and its future direction.
Alex said: “There is a huge and ever-growing disconnect between the people who run Newcastle United and the people who support the club.
“This is not just confined to the question of who manages the team – recent polls in the Chronicle and The Athletic have flagged up the intense disaffection which fans have with the entire running of the club.
“This situation is unhealthy and unsustainable. We believe the 1892 Pledge is the first step towards writing a better future for Newcastle United.
“This is an ambitious project designed to begin the hard work of protecting the club for the next generation of Newcastle United fans.”
What do you think? As ever, we would welcome your comments, opinions and views below.
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