Pirates owner Dicky Evans confims plans to step aside at the end of the season (From Falmouth Packet)
Get involved: send your pictures, video, news and views by texting PKNEWS to 80360
Pirates owner Dicky Evans confims plans to step aside at the end of the season
5:46pm Monday 14th October 2013 in Sport
Cornish Pirates owner Dicky Evans has reiterated his intention to step aside from the day to day running of the club at the end of the season, but will continue to fund the Pirates in the near future.
In a statement Evans said the time had come for him to take a break from the stress of running the club and think of his family, having guided the Pirates to the lofty heights of The Championship since taking over in 1994.
But he promised to provide a 'rolling commitment' of £400,00 towards the Pirates' budget requirement which would continue unless the Pirates were promoted to the Premier League.
If the Pirates were relegated from The Championship he would provide a 'one year parchute payment.'
Evans said: "What started as the donation of a minibus to the Pirates Junior section in 1994 has resulted in all of us being on a cracking journey and rollercoaster ride of Ups & Downs over the last 20 years.
"However there is a need to alter the ownership of the club in readiness for this next push as I am not getting younger and need to alleviate the stress somewhat that is involved with this mission. I also have to think of my family for a change.
"I intend to step aside (not down) at the end of the season as the owner of the Company and hand over ownership to the many superb friends and supporters who follow the team."
Those 'friends and supporters' are a group of 150 yet-to-be-selected Pirates fans who will be offered joint ownership of the club through a share offering.
Evans goes on to say: "They will be taking over a company clear of all loans and debt - paying a nominal £1 for the whole shareholding. The limited liability company that is registered with the RFU and trades under the name of the Cornish Pirates is owned by Kernow Sport, a company within a Trust. The RFU demand that Championship sides operate as a company and provide financial reporting quarterly to them. We will liquidate Kernow Sport and sell the ownership to the new shareholders."
The club intends to draw up plans for the transition over the next eight months, but Evans made clear that no single shareholder will be able to take control of the club.
"With less than 150 shareholders we don't fall foul of the FSA and require an expensive prospectus and all the rigmarole that goes with a Public offering," he said.
Evans intends to reveal more about the proposed changes when he returned to Cornwall for the Pirates' game against Bristol on November 24.
"At that time should be in a position to take this forward and provide more information," he said, adding: "If you wish to become part of the Pirates future as a shareholder in the club and want to register for more information as it becomes available with a view to becoming a shareholder, please send an expression of interest to firstname.lastname@example.org."