Edinburgh Evening News, 14 May 1999

Hibs Fans in Shares Bid

Sir Tom welcomes plan to buy 25 per cent stake in club
By David Hardie

A group of Hibs fans are set to launch a shock bid to buy a major slice of the Easter Road club from current owner Sir Tom Farmer, it emerged today.

The Erin Community Trust will ask Hibs fans to invest at least £5 a month and, while five elected trustees will decide each year how to spend the money, they will initially seek to purchase shares in the club.

Today Sir Tom told them he'd be delighted to see them sit down with the Easter Road board to discuss how they could invest in Hibs.

The trust, which will be formally launched at Easter Road tomorrow, has a long-term aim of attaining no more than 25 per cent of the value of the club but, it is understood, it won't seek a seat on the board.

The initiative has come from, in the main, members of the International Hibernian Supporters Club who communicate on the internet. Their internet site receives more than 4000 'hits' a week, raising optimism that their bold idea will receive substantial support, with form Hibs star Craig Paterson having already agreed to become an "interim honorary trustee".

The Trust's sole objective would be to invest cash raised from individuals, or businesses, for the benefit of Hibs and by doing so provide fans with a real say in the future of their club. They believe their plan will have far-reaching effects on how supporters may be involved in the running of football clubs in Scotland.

Discussions on the exact detail have taken place over the past six months, although the idea was first mooted a year ago and Hibs new chairman Malcolm McPherson has been kept abreast of the Trust's progress.

McPherson, a corporate lawyer, said: "The board is appreciative of this innovative and supportive proposal. Whilst it its embryonic stages, and with regulatory hurdles to overcome, this has the potential to be of real benefit to the club."

Sir Tom himself welcomed the Trust's interest in the club, although he was unwilling to discuss their intention to buy shares, pointing out that he didn't know the people behind the proposal. He said: "I have heard that there were some very tentative comments made to people at Easter Road.

"The reaction is 'great', if supporters want to get behind the club let's hear what they have to propose. They also have to be acting in the interests of everybody, not just those who are proposing to put some money in.

"I couldn't comment on their proposal because I am not sure what it is, but if they have some good ideas to talk about then, great, I am sure Malcolm and Rod Petrie will be more than delighted to sit down with them."

Editorial

Fair Share for the Fans

The proposal by a group of Hibs fans to raise money to invest in the Easter Road club may appear somewhat fanciful. But it is an idea worthy of consideration by the incoming chairman Malcolm McPherson and his fellow directors.

Whether the newly formed Erin Community Trust will be able to persuade Hibs owner Sir Tom Farmer to part with a portion of the shares remains to be seen, but McPherson and his board will surely welcome the fact that supporters want to become more involved in the running of the club.

Of course football today is big business and it needs people like McPherson to make the major judgements which have to be taken but clubs, particularly outfits like Hibs, also need to raise money from every available source.

The Trust may, in the long run, only be able to make a modest contribution to the expense of running a major football club. But nevertheless whatever money they do bring in, if their novel proposal wins favour with their fellow supporters, would have to be welcomed.

The news that the Trust won't be seeking a seat on the board in return for their initiative should also be seen as a sign that they are not in it for personal glory. Rather a desire to do their best for the club they love.

Even if their initiative were to falter it has certainly opened up a discussion about the part fans can play in the running of their clubs. Unfortunately, the fans are all too often forgotten in the race to raise money. They are often seen only as lemming-like creatures who can be soaked time and again by clubs for their cash.

The Erin Community Trust has certainly turned that one on its head, asking, instead, how they can empty their pockets into the Easter Road coffers and help secure the future.