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Scottish FA members approve change of ownership ruling

Wednesday, 06 June 2012

The Scottish FA members have today agreed to implement a number of resolutions, including a new Article of Association addressing the change of control at football clubs.

The new article, which was unanimously approved at today's Annual General Meeting at Hampden Park, formalises the obligations on member clubs regarding change of ownership.

From now, any outgoing board of directors will be required to submit documentation confirming that due diligence has been undertaken with regard to the prospective purchaser.
 
In effect, a change of control certificate will require to be lodged to the Scottish FA by the outgoing regime before any sale is finalised.

The Scottish FA also announced a £4.5m increase in turnover for the year to £32.2m, with one third of turnover issued directly to member clubs, an increase on the previous year, when one quarter of the turnover was allocated to members.

Scottish FA chief executive, Stewart Regan, said: “It is important that club owners take more responsibility to ensure that they sell their club to an individual or individuals who act responsibly and within the rules of football.

“The Scottish FA governs the whole of football and rather than spend millions of pounds on investigations into any number of prospective purchases across the game at all levels - which would be better kept within the game - it is important that the onus is on those involved in the sale of the club.”

Stewart Regan discusses the decisions taken at this year's AGM in our exclusive video here...