£87m Investment proposal: What happens now?

Well, the time has come to perhaps solve that problem. Or has it. The very unique situation we have as fans of AFC Wimbledon is: how far do we want to go without actually selling out as a club to investors? It has been something that, for many, has been a long time coming.

There are quite rightly those who will simply refuse to allow any investment and simply stand their ground and face whatever comes our way. Others will realise that to stay competitive on the pitch and therefore grow revenue, we need an injection of cash. And then some say selling out will not mean the end of the club as we know it, but it does ensure we have the funds to grow as and when we need to.

These are, of course, all very broad terms. The gaps that need to be filled in for each of those situations are also just as broad. They have been discussed and are far-reaching to put into one single article, so will be something we pick up again during the whole process, but already the incentive of a £87m injection of ready cash has already been too much of an carrot to not nibble at.

For now, though, let's look at the bare facts of what has been presented to us.

Last April, the Trust members voted a resounding yes to move its ownership model down to 50.01%. This keeps overall control of the club within its membership. This also allowed the Trust to move forward and seek potential investors who will honour and respect the 50.01% model.

The board had over 20 potential investors approach them, and they eventually whittled them all down to one suitable group. That is Sloane Square Capital.

The board has spoken with over twenty potential investors, judging against strict criteria including football alignment, financial substance, governance compatibility and respect for supporter ownership. 

The timeline for meeting the potential new investors was laid out.

Two meetings have now passed. The main funder, Omar Mir, has not been present at either, which has been a bone of contention for many supporters. The scrutiny over his legitimacy as a beneficiary has been quite intense, sometimes bordering on a little obsessive. But with good reason. Football has eaten itself into a corner where money is concerned, and even though not entirely connected, the Manchester City issue has everyone on eggshells and any club looking for investment will be looking at great detail at where and how money being ploughed in has come from.

As you will see from the information pack (the link on the X post above) the two “football heads” will be taking over the day-to-day running of all football matters. Should this be a concern? Well, we have been told no. The current run of bad form on the pitch could spell doom for those in the dugout. How often do we see new people come in and the first thing they do is bring in their own men? There are no assurances for our management team at this point, and the cynic in me says that there could be change relatively immediately. Let's settle down, though. Should this deal get voted through, it does need to meet these thresholds.

Then it will go to the next stage, which would see the EFL and their people get involved to ratify the process. So any deal may not even go through in time to make an immediate impact on playing budgets and transfers for the January window. It may go a way to settle the squad down, though, as this ongoing saga could be affecting their play (that’s me being kind).

The assurances that the Dons Trust Board have given us are sound and reasonable. They have clearly done a lot of work on this, and that is to be commended. There are, though, lots of questions that need to be answered. The Trust have had some, somewhat ironically, trust issues in recent years, and I believe that has led to some very cautious and wary members being more thoughtful than at any other time.

Make no doubt, this is the biggest vote and decision that has fallen upon the club. There have been votes before on a large scale: the previously mentioned 50.01% way back, a vote to buy the Kingsmeadow ground as we started to rise up the non-league pyramid, and even though it wasn’t a voted decision, the Plough Lane Bond was created to finance the move back home.

This, though, will change the landscape of AFC Wimbledon forever, even if it is a yes or no.

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