Scunthorpe United fans say they have “absolutely dodged a bullet” after a potential investment by FC100,000 fell through on Monday.
The Iron, formerly of the Championship but now in the sixth tier, pulled out of investment talks with the firm after a huge backlash from fans on social media.
FC100,000 is the newest iteration of MyFootballClub, the controversial fan-led ownership vehicle which owned Ebbsfleet Town between 2007 and 2013.
The business model does not and would not issue dividends but would use fan money to invest in a club and hold a seat on behalf of fans on the board.
But after rumours of interest in Scunthorpe United, who have recent history with poor ownership, spiked following the reported attendance of key MyFootballClub figure Will Brooks at their match against Chester on Saturday, fans turned on their club.
Scunthorpe United back out
Club chair Michelle Harness said on Monday: “When we were approached by the founders of FC100,000 we were unanimously impressed with many elements of their proposal and were open to the idea.
“…We have listened to concerns, we share a number of them, and we have unanimously decided to end our interest in this project.”
Fans of the Scunthorpe United supporters society Iron Trust welcomed the news but insisted there would now be caution urged against their current owners for entertaining such a speculative move into business with FC100,000.
“We’ve absolutely dodged a bullet,” Matt Ellis, Iron Trust board member and host of club podcast Iron Bru, told City AM. “I think, legitimately, those concerns [about owners] will linger now.
“I mean, there’s no way around [the fact that] the board and the club leadership as a whole or individually entertained this as an idea and as a response to financial problems inherited from the previous owner.
“But there will be lingering concerns from fans that they thought this was a good idea in the first place.”
‘Influence, not control’
FC100,000’s newly launched website states that their 100,000-member target would bring in £6m annually, with Torquay United currently above Scunthorpe United as the club voted as having the most potential. The likes of York City, Hartlepool United and Hampton and Richmond Borough also feature.
They aim to “support the current owners both financially and with expertise” while giving “fans and members influence, access and transparency”. Under MyFootballClub there were plans to let fans and members pick the Ebbsfleet team during their tenure.
Added Brooks in an interview with the Athletic: “Some people have suggested the crypto route like Crawley Town, and we have looked at that. But I think the key is to improve what we did well and fix our mistakes.
“We want influence, not control, a seat on the board and a chance to show people how clubs work.”
