An attempt by East Fife supporters to launch a community takeover of the club has taken a significant step forward.
The existing majority shareholder has indicated he backs the move and a share price has now been agreed.
Most of the 200,000 shares are owned by Bayview Fife Ltd, a limited company with a single shareholder.
And the East Fife Supporters Society (formerly the Supporters’ Trust) has been negotiating with his representatives for some time.
An EFSS spokesperson said: “We have our legal people talking to each other and setting up the paperwork, a share price has been agreed and we’re now sorting out the fine details.”
Hopes to develop club commercially and in community
The Society has also held talks with other key people, including the existing East Fife board and chairman.
And the hope is to develop the club in the community and commercially.
“On the football side, we’ve had chats with Dick Campbell who, along with his brother Ian, forms the new management partnership,” said the spokesperson.
“We’re completely aligned with the short-term aim of ensuring our safety in the SPFL and then over a three to five year period, moving towards the Championship.”
The EFSS business plan, welcomed by funders, contains a number of elements.
They include proposals to add to the stadium structure, bringing in further local investment, income generation at Bayview and strengthened links with local businesses,
And there is determination to continue the youth development work being done in the community.
East Fife takeover could be settled by next season
EFSS chair Ian Lowson said: “We are delighted with the progress so far.
“We are hopeful of retaining the experience and knowledge of existing EFFC directors for some time when we gain control of the ownership.
“It’s also a further mark of all fans working together for the better of the club and the community.
“The football club has a great record of community activities and we will fully support these groups while bringing new investment and commercial input.
“Our prime aim, of course, will always to be to progress East Fife FC as a senior Scottish football club.”
Mr Lowson said financial arrangements to support the bid are almost in place.
No firm date for completion has been set.
However, the chairman is confident the change in ownership can be in place for the start of next season.
Fundraising is continuing and details of how to contribute can be found here.
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