Can you summarise what the proposal means?

The Trust will sell 24% of York City FC to Julie-Anne Uggla for £112,000. At the same time we will modernise YCFC’s company articles (the rules that limit how YCFC is operated), adding more protections and rights for the Trust and updating the preemption clauses to be fairer. Lastly, an updated partnership agreement between the Trust & the Ugglas will establish how the YCFC board runs the club and reports to the Trust.

Why do the Ugglas want this?

Julie-Anne & Matt are providing major investment into YCFC to grow the club & build for the future. Changing the ownership split between them & the Trust to 75%/25% reflects this level of investment. It makes their future investment more sustainable for them by increasing how much they benefit from growing  YCFC’s value. Additionally it gives them the opportunity to bring in strategic partners who can help the club grow further.

Why is this a good thing?

The club needs more investment, on-pitch & off, and the Trust does not have the resources to provide it. In Matt & Julie-Anne we have ambitious partners who clearly care about YCFC & its fans, and are committed to working with the Trust. Reducing the Trust’s ownership has no impact on the rights & protections the Trust holds (enshrined in the YCFC articles), and the extra rights added as part of the sale further safeguard the future of the club.

Will the sale allow 394 Sports to offset any losses that YCFC make for tax purposes?

The agreements proposed are to sell Julie-Anne Uggla an additional 24% of the football club, therefore 394 Sports will not own 75% of the football club. In addition, 394 Sports as it stands only has a shareholding in the York City Football Club and therefore as it stands would only make a profit should the football club make a profit.

How does this impact Bootham Crescent Holdings?

The key remaining ‘assets’ of BCH are the rights it holds with Persimmon Homes to take ownership of the memorial garden at Bootham Crescent. As a part of the Partnership agreement the Uggla’s have agreed to sell the garden to the Trust for £1 so that its ownership remains in the hands of fans. Every member of the Supporters Trust will therefore own a small part of the memorial garden.

As of yet there have been no discussions regarding what will happen to the BCH company.

What does YSCT plan to do with the £112k which it would receive for the ‘B’ shares?

The Supporters Trust has a Tax Bill to pay following the transfer of shares last year, there are also repayments on loans taken from supporters last year to assist the club paying staff wages toward the end of last season. As the Trust’s purpose is not to earn from the football club the £112,000 figure has been reached as to not incur an additional tax bill and thus take money that could otherwise be diverted in to the football club.

What are the Uggla’s intentions for the club?

Julie-Anne and Matt covered their plans of the football club during their presentation to fans on 15/11/2023. The video is on the football club’s YouTube channel here.

Why is this agreement directly with Julie-Anne Uggla as apposed to 394 Sports who own 51% of the club?

Julie-Anne is providing the funding for the purchase of shares so the agreement is with her for the sake of clarity. Additionally  it simplifies the process for bringing in possible strategic investors. Whether the shares are held by Julie-Anne individually or by 394 Sports has no impact on the Trust’s rights & protections.

How can I ask my questions?

You can submit further questions via the form here. Additionally there will be the opportunity to ask questions to the Trust board members at the SGM on November 30th, and Trust board members will also be on hand at the fan’s forums with Neal Ardley & Matt Uggla on November 28th.

About York City Supporters’ Trust

The York City Supporters Trust is a community-owned organisation dedicated to supporting York City Football Club. We are committed to promoting the best interests of the club and its supporters, and we continually strive to enhance transparency, inclusivity, and member engagement.