Brsit Outline Presentation for Q&A at King Georges Hall, 26 May 2012


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Brsit Outline Presentation for Q&A at King Georges Hall, 26 May 2012

  1. 1. Blackburn RoversSupporters Investment TrustUnveiling the BidYour Questions Answered
  2. 2. Agenda What is BRSIT Introduction of the Team High Profile Public Supporters Overview of the BRSIT idea Regular Queries Your Questions Answered Next Steps for BRSIT How you can help Any Questions Further Information
  3. 3. What is BRSITThe Blackburn Rovers Supporters’ Investment Trust is: A collection of committed Rovers Supporters who are worried over the state the club is in and its long term future Seeking to put together a bid for the club by gathering together all Rovers fans to finance a ‘community ownership’ initiative with no one person or group in outright control Supported by high profile local figures from the business, political and sports arenas Now a Registered UK Company with registration number 8046293 Putting the final touches to a community share issue to finance a formal bid for Blackburn Rovers Football & Athletic Plc to the current owners
  4. 4. Introduction of the Team BRSIT Ltd has assembled a team covering the required skill sets to successfully create a viable bid for the club. Day-to-Day Management (Founding Board) • Wayne Wild – Director of WEC Group – Blackburn End Stand sponsor of BRFC – Lifelong Rovers fan • Dan Grabko – CFO of Jobtip Group in Sweden – Finance Specialist – Lifelong Rovers fan • Neil Thornton – MD of Thornton Media – PR Specialist – Lifelong Rovers fan Non Executive Director • Simon Garner– BRFC Legend
  5. 5. Introduction of the Team BRSIT Ltd has assembled a team covering the required skill sets to successfully create a viable bid for the club. Supported by • Glenn Keeley – Former Players Representative – BRFC Legend • Ian Liddle – Farleys Solicitors – Legal • David Kitson – RSM Tennon – Accounting • Richard Speak – Pall Mall Capital – Corporate Finance • Gary Barker - MW Printing – Print Services • Janice Parker - Jubilee Credit Union – Provision of BRSIT Share Saving Accounts and Loans • Jean Dziki – Marketing • Chris Heyworth – B2B Sales • Stuart Grimshaw – Social Media • Neil Burrows – Whitehall Country Hotel • Laura Moulden – Hive – Advertising • Khursid Valli – Gateley LLP – Share Issue Advisor • Supporters Direct – Community Ownership Advisor • Michael Booth – Pleased Sheep Films – Video Production
  6. 6. High Profile Public Supporters BRSIT’s plan has gathered public support from many highly experienced and credible people Political • Jack Straw MP – ex Home and Foreign Office Minister and current MP for Blackburn with Darwen • Jake Berry, MP • Graham Jones, MP • Brian Simpson, MEP • Kate Hollern, Leader of Blackburn with Darwen Council • Sir Bill Taylor – ex Leader of Blackburn with Darwen Council • Phil Watson CBE – ex Chief Exec Blackburn with Darwen Council • Lord Taylor of Blackburn • Lord Patel of Blackburn
  7. 7. High Profile PublicSupportersBRSIT’s plan has gathered public support frommany highly experienced and credible people Businessmen • Colin Mustoe - Senator International • Vernon Yerkess - Cleverboxes • Wayne Hemmingway - Red or Dead Fan Groups • Blackburn Rovers Supporters Trust • Aqueduct Inn Ewood Blues • Blackburn Rovers Action Group • BRFC Supporters Internet Site (BRFCS) • Vital Blackburn Rovers Internet Community • Various Blackburn Rovers Regional and International Fans Associations
  8. 8. Overview of the BRSITIdeaEnabling Community Benefit SocietyOwnership of BRFC Initial goal of £10m £1,000 a share 1 member = 1 vote No successful bid – no commitment – all funds returned to members Annual General Meeting to decide key club strategies – Appointment of Board of Directors/ Annual Budget Approval No active role on specific footballing decisions – let proven professionals run the business. – Day to day running of the club, Manager/ employee appointments, transfer targets etc left to the Board
  9. 9. Community ShareStructureEnabling Community Benefit SocietyOwnership of BRFC £1,000 a share Withdraw-able & Non-transferable – Shares could be withdrawn by the shareholder at the discretion of the board of directors after the mandatory holding period – Shares could not be bought or sold on any market, either listed or not Asset Lock – Shares could never increase in value, but they could decrease in value 1 share ≠ 1 vote; 1 member = 1 vote Maximum possible investment risk as proposed = £1,000 Maximum possible investment return as proposed = £2,000 – £1,000 Rovers Rewards spread over 20 years – £1,000 upon withdrawal if share has retained its full value No successful bid – no commitment – all funds returned to members
  10. 10. BRSIT Membership CardEffective annual 5% return on membershipinvestment in the form of Rovers Rewards  BRSIT Card could be used to redeem Rovers Rewards to purchase Rovers promotional merchandise, match day tickets, corporate hospitality facilities, etc.  A 5 share membership level (5 x £1000 shares) could give you a free season ticket every year for 20 years (based on 2011/12 prices) by redeeming your Rovers Rewards  BRSIT Community Points could be earned by swiping your card at Partner Rovers Rewards may effectively repay your entire Businesses, and a small portion of your membership investment over 20 years purchase could be donated to BRSIT
  11. 11. Jubilee Tower CreditUnion“Share Saver Account” and Financing Offering Agreement struck with Jubilee Tower Credit Union who created a new protected “Share Saver Account” to enable fans to save up the money required for a share in the Blackburn Rovers Supporters Investment Trust The maximum balance in a “Share Saver Account” will be £1,000 The maximum loan amount on a “Share Saver Loan” will be £750
  12. 12. Regular QueriesThe most popular questions received to date arefocussed on how any bid would be structuredand how success might be achieved How much do you think would be needed to buy the club? Who will run the club? Does Premiership status matter? Are you going to laden the club with additional debt? What is this Rovers Rewards membership benefit and how will it affect the club’s income? How much has been pledged so far? Will BRSIT be willing to become a part owner in cooperation with other bids?
  13. 13. Your QuestionsAnsweredOpen Floor and Q&A
  14. 14. Next Steps for BRSIT Take the feedback from today and the website to polish the form and structure of a bid Continue to market the idea to fans, businesses, key stakeholders to ensure fundraising target can be hit Encourage deposits to the Jubilee Credit Union Protected Accounts Outline timetable – aim to launch bid over the summer football break and make formal approach before the start of the new season – Release Pre-share offer document and begin to collect cash into escrow – Open discussions with the current owners once clear that funding is available – Release Detailed share offer document when actual target is known/ negotiations are underway – Reach Target/Takeover
  15. 15. How you can help If you have already pledged, please increase your pledge if you can If you haven’t pledged, please do so online – no commitment but gives BRSIT a clear signal of the availability of funds Deposit savings towards your pledge to the Jubilee Credit Union Accounts – again no commitment but gives you certainty you will be counted for the first phase of shares Encourage others – word of mouth is the strongest marketing we can get We need key local businesses behind us – can you help us meet key decision makers to explain our plan We want more high profile supporters to help spread our message – can you put us in touch? Donations: Working fund is necessary to cover expenses raised in our campaign
  16. 16. Text your pledge now Text ECTGA to 60777 to pledge to buy one share today!
  17. 17. Further InformationHelp us spread the word! @brsit_trust