Andrew Jenkins now Carlisle United's majority shareholder
Last updated at 12:37, Saturday, 07 November 2009
Chairman Andrew Jenkins has become Carlisle United’s majority shareholder.
The businessman – preparing to celebrate 50 years as a Blues director – has had shares held by former club co-owner David Allen transferred to him.
The decision means Jenkins now holds 50 shares – 25 more than previously – in CUFC Holdings, which owns 93 per cent of the club.
The move follows Allen’s departure as co-owner and chief executive last week.
The other shareholders in CUFC Holdings are the United Trust, which holds 34, John Nixon and Steven Pattison, who have 25 each.
It has emerged, meanwhile, that Jenkins made a six-figure interest-free loan to the club – with no terms of repayment – to get it through financial difficulties towards the end of last season.
Pattison also made a five-figure loan – on the same basis – earlier this year, as did Allen. An anonymous local businessman provided a similar injection.
Jenkins said: “I couldn’t bear to see anything happen to this club that would jeopardise its future.
“I can’t do a Fred Story and pump in a seven-figure sum but I was able to make a six-figure director’s loan. I would always do whatever I could.”
Directors say United’s finances have “improved considerably” since March.
Neither Jenkins, Pattison nor Allen have received payment from the club this year and Nixon waived his managing director’s salary in June.
First published at 09:11, Saturday, 07 November 2009
Published by http://www.newsandstar.co.uk
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