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Club Statement (for shareholders, via email)
at 19:44 27 May 2021

Apologies if this is discussed elsewhere but the club have issued this statement tonight:

Rochdale AFC & Denehurst Park (Rochdale)
STATEMENT FROM CHAIRMAN ANDREW KELLY AND THE BOARD OF DIRECTORS TO RAFC SHAREHOLDERS
1. Update on Recent Developments
Ahead of the AGMs and EGMs to be held on Tuesday 1st June 2021, the board of directors would like to update shareholders with some important information.
Over the last two years, the board has held the view that to move the club forwards there is a need for outside investment. To have done nothing would have been negligent and would have placed the continuing existence of our proud football club at risk.
The Covid-19 pandemic has reset the world financially and, as a result, sustainability in the world of football is more challenging than ever. Even before that, as a Football Club operating at an elite level of professional football, we could not compete and thrive without the injection of significant amounts of money that are not open to us in the traditional way that we have been funded for 114 years.
We are currently one of less than ten percent of Football League clubs that isn’t owner-funded or major shareholder-controlled.
As a responsible board representing the Dale shareholders, who number over 300, we have looked at many outside parties who have presented varying levels of interest and associated proposals to become that new owner/investor.
Until very recently, none of the proposals tabled have been sufficiently detailed, credible or funded to a level necessary to ensure that the club is stabilised and developed to move us forwards.
The current board, in line with the wonderful previous board custodians over the past 114 years, only have the interests in the development and success of the club at heart and would not contemplate entering into an agreement that could potentially take us down the unsustainable path that other football clubs have sadly found themselves on.
Furthermore, the stringent tests now imposed by the EFL, with regards to owners and directors, are in place to ensure that such unsustainable situations like at those other clubs will never arise again. Not only is proof of funds required for any potential new owners and shareholders, but there are requirements to demonstrate how those funds were acquired and how they will sustain the club going forward. All of the parties that we are engaged in talks with fulfil those EFL requirements.
There has been a concentration by the board in the last four months to bring a conclusion to talks with genuinely interested parties that, if they were to acquire the club, would be to the betterment of RAFC. Commensurate with that, there has been a period of exclusivity with one interested party.
All parties involved wish to continue negotiations and due diligence in a confidential manner which is out of respect for the club. As a responsible board, we understand and respect this situation, but suffice it to say that throughout all the recent and continuing negotiations, we have been greatly impressed by the professional and knowledgeable approach taken at all times.
We can report that the level of investment and the short, medium and long-term plans that have been put forward represent something that this board has been seeking and the club has been in need of for several years.

We are aware of the current criticisms levelled at the existing board, but any potential new owners have confirmed that there will be a new structure introduced throughout the club should the negotiations continue to a successful conclusion. This new structure will be put in place as and when a full assessment has been concluded.
Relegation to EFL League 2 will undoubtedly influence important and immediate short-term planning but has not diminished the enthusiasm and desire to stabilise and develop RAFC over the next 5 years and to press the reset button to bring the club into the modern, post-covid, football world.
The plans discussed to date have featured greatly the urgent need to invest in Club facilities. Primarily, this includes developing first team training facilities, which can ideally become a first team, Academy and Community complex.
The second area of requirement is to invest in stadium refurbishments, both for football and non- football related development, with the third area of investment in on-the-field matters to achieve our ambitions of an immediate return to League One and to achieve greater sustainability as a football club.
At all times during the ongoing negotiations, we have been impressed by each party’s total understanding and respect for the fact that the supporters are the lifeblood of any football club.
2. The Next Steps
Due to the existing constitution of Rochdale Association Football Club Limited, there is currently no practical method of introducing the level of funding and associated control that is a pre-requisite of further negotiations.
This situation arises out of the fact that the present shareholding is so diverse, with the single largest holding representing only 21.87% of the current issued share capital.
In order to allow negotiations with the interested party to be taken to the next level, Resolutions 1, 2 and 4 need to be passed by shareholders at the EGM on 1st June.
Resolution 3 has previously been within the control of the board, but the authority to issue these shares expired in 2016, and was not renewed at that time.
Resolutions 1 and 2 would ensure that any investment will come directly into Rochdale AFC through the issue of new shares. If the board is unable to issue new shares, prospective shareholders could instead approach individual shareholders, which would see significant shareholdings being acquired with monies not benefitting the football club. This has happened in the last two years where a significant amount of money for shares has been transacted without benefit to RAFC. The new investment that is required would be put directly into achieving previously mentioned ambitions.
The board considers that this is an essential next step to allow development of the discussions with interested parties, who, with their vision, professionalism and passion, will be exactly what RAFC needs to not only secure the future, but to develop the club for the benefit of the supporters, the community and the town of Rochdale. Without having the authority to issue new shares, the board is effectively stifled in its ability to seek new investment and we are left in a situation where the status quo prevails.
Whilst the sensitivity and confidential nature of these ongoing negotiations needs to be maintained at this present time, the future transparency and engagement with the supporters on any offer can only benefit all concerned with RAFC.

If we can all work together to bring the passion, vision and investment on offer to the club, we are sure that RAFC will be in a very different place in years to come.
EGM Resolutions 1, 2, 3 & 4
1. THAT, in accordance with paragraph 42(2)(b) of Schedule 2 of the Companies Act 2006 (Commencement No. 8, Transitional Provisions and Savings) Order 2008, the restriction on the authorised share capital of the Company be revoked and deleted from the Company’s memorandum of association.
2. THAT, subject to the passing of resolution 1, in accordance with section 551 of the Companies Act 2006, the directors of the Company (Directors) be generally and unconditionally authorised to allot shares in the Company up to an aggregate nominal amount of £348,521 (697,042 shares @ £0.50 per share) provided that –
a. this authority shall, unless renewed, varied or revoked by the Company, expire at not less than 5 years from the date this resolution is passed; and
b. all shares allotted pursuant to the authorisation hereby conferred shall be so allotted at no less than £6 per share.
3. AND, in the event that resolution 1 is not passed, in accordance with section 551 of the Companies Act 2006, the Directors be generally and unconditionally authorised to allot shares in the Company up to an aggregate nominal amount of £198,521 (397,042 shares @ £0.50 per share), which is the limit of the Company’s authorised share capital, provided that –
a. this authority shall, unless renewed, varied or revoked by the Company, expire at not less than 5 years from the date this resolution is passed; and
b. all shares allotted pursuant to the authorisation hereby conferred shall be so allotted at no less than £6 per share.
Special resolution
4. That, subject to the passing of resolution 2 or 3 and, in accordance with section 570 of the Companies Act 2006, the Directors be generally empowered to allot equity securities (as defined in section 560 of the Companies Act 2006) pursuant to the authority conferred by resolution 2, as if section 561(1) of the CA 2006 did not apply to any such allotment.
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Supporter engagement
at 13:01 5 May 2021

I know the guys alluded to this on the latest podcast but to outsiders, they'd continue to think there are no problems at the club, given we're rated 20th for supporter engagement; covering dialogue, transparency and governance.

https://www.bbc.co.uk/sport/football/56988691

Not sure how it's all measured, mind.
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Youngster to City?
at 09:26 28 Apr 2021

Not the one you think:

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International friendly coming to Spotland
at 12:43 20 Apr 2021

A great coup for Spotland/COA and the town in general:

https://www.loverugbyleague.com/post/england-to-play-fiji-in-world-cup-warm-up-m
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Trialists
at 15:30 3 Feb 2021

https://www.rochdaleafc.co.uk/news/2021/february/integration_clc_carlisle_03.02.

Fitzo, don't suppose you've heard owt regarding Trialists A & B?
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McLaughlin interview
at 10:41 21 Jan 2021

Interesting that he says he hasn’t had any recurrence of his plantar fasciitis since lockdown. I hope he’s right, for his sake and ours:


https://www.irishnews.com/sport/footballsoccer/2021/01/21/news/ryan-mclaughlin-s
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Bye Kwadwo?
at 15:14 20 Jan 2021

https://mobile.twitter.com/mcgrathmike/status/1351878732798185473

Heard owt similar Fitz?
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Festus Arthur
at 11:50 7 Jan 2021

No, it’s a name of an uncommon venereal disease:

https://mobile.twitter.com/SportsPeteO/status/1347147078506573824
Forum
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B teams proposed again
at 17:22 7 Oct 2020

https://www.skysports.com/share/12098304

A bit rich, coming from somebody associated with a club owned by a oil-rich Gulf state.
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Season Card update
at 13:59 30 Sep 2020

https://www.rochdaleafc.co.uk/news/2020/september/202021-season-card-update_sept
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Incoming (courtesy of Fitzochris)
at 10:50 24 Sep 2020

https://mobile.twitter.com/fitzochris/status/1309065116252614657
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Ross McCormack
at 11:28 18 Sep 2020

Signs for Aldershot. Very random.

This isn’t an underhand way of saying we should have gone for him as I wouldn’t have been interested. Plenty of attitude and fitness issues over the last few years, which is why he’s ended up in the National League.
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Twitter users
at 15:14 3 Sep 2020

I don't have any social media but those with Twitter might want to throw a pertinent question or two Bill Rice's way...

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Outgoing striker
at 09:22 1 Sep 2020

Keaton Mulvey has joined Mossley on loan - surely this means we’re due one in today?

https://mossleyafc.co.uk/lilywhites-sign-mulvey-on-loan/
[Post edited 1 Sep 2020 9:22]
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Trialist
at 13:04 28 Aug 2020

A Cheltenham fan I know seems to think Jake Doyle-Hayes, a lad they had on loan from Villa last season, is training with us at present. He’s a midfielder and seemed really highly rated by Cheltenham fans - since been released by Villa and he’s Irish:

https://en.m.wikipedia.org/wiki/Jake_Doyle-Hayes

Midfield is undoubtedly our strongest area but if an ‘acceptable’ bid were to come in for Ollie...
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New kits
at 12:02 14 Aug 2020

https://www.rochdaleafc.co.uk/news/2020/august/20-21_kitsreleased/
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No football for the next three weeks?
at 10:50 13 Mar 2020



Apparently to protect players more than the public.
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Matheson to....
at 11:56 31 Jan 2020

Wolves. That's what Pete O'Rourke is reporting. He'll be loaned back to us as part of the deal.

Given Norwich have just signed a young right-back from Coventry which could total £3 million, we should be looking at similar for a player who's been lauded in the Nationals.
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New signing
at 10:59 15 Jan 2020

11AM.
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Baah
at 09:32 9 Jan 2020

If anybody does have a subscription for The Athletic, this is a decent read on young Kwado:

https://theathletic.com/1515577/2020/01/09/kwadwo-baah-rochdale-english-football

You can get a free week's subscription too.
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