The majority was secured with 360 votes in favour. 85 voted against the proposal. Eight members voted blankly and 32 chose not to vote. Over 430 voting members were present both digitally and physically at the extraordinary annual meeting of IK Start at Sør Arena. Some members celebrate after the extraordinary annual meeting has ended. Some members had already left the room when the result was announced. Not because they were unhappy, more because it was hot when close to 280 members were gathered. Photo: Kjetil Samuelsen / news On Tuesday evening, they agreed to the club signing an agreement with American investors who want to contribute NOK 40 million over 10 years. For the agreement to go through, a simple majority of the members’ votes was required. The agreement has caused great debate among the members. Media banned The members at the annual meeting decided early on that the media could not be present during the meeting. It was decided by 222 to 199 votes. One member voted blankly and ten votes did not go through. In advance, the board of IK Start had recommended the members to keep the meeting closed. Start is in a deep economic and sporting crisis. Sørlandsklubben has a negative equity of NOK 7 million. They risk being deducted two points if it is still negative at the end of the month. If they fail to show positive equity by 31 October, the club will be relegated to the 2nd division. Chairman of Start Børre Fredriksen, pictured here during the club’s annual meeting on 6 March. Photo: Kjetil Samuelsen / news Confidential The Americans have announced that they will invest NOK 40 million in the club through a so-called dual model over the next 10 years. Start has received criticism that parts of the agreement are confidential. The members have only been allowed to read it on the club’s premises, after signing a non-disclosure agreement. The company that will enter into the dual model agreement is called “Stein på Stein 1905 AS”. The company will take over commercial rights if the agreement goes through. Roger Loughney, Jean Bley and David Grim are at the head of the American investors who are the main shareholders in the company. The latter is present at Sør Arena on Tuesday evening. Roger Loughney (th) and David Grim are at the head of the American investors who want to sign the agreement with IK Start. According to what news knows, they want to enter with NOK 10 million in the first year, NOK eight million in the second year, NOK six million in the third year, and then NOK two million in the remaining years. Photo: Kjetil Samuelsen According to news’s sources, chairman Børre Fredriksen read out a statement from the American investors at the annual meeting. Here they write that the intention is to support the club and that they have no plans to sell the company, about which there has been skepticism in the past. No plan B General manager Sveinung Hedding Valvik in Start says from the lectern at the extraordinary annual meeting that the club does not have the liquidity to pay salaries and value added tax through the summer if the agreement is rejected. He also says that the club must cut the next 30 days if the agreement is voted down, news is informed. To news, Valvik will not comment on when the box will be empty. He says that the club has an overview of the liquidity, but not control. – This solution is something that the board and the administration have set their sights on, in order to be successful with it. Sveinung Hedding Valvik (right) and Børre Fredriksen during the press conference on 4 June, when the agreement was presented. Photo: Kjetil Samuelsen / news Chairman Børre Fredriksen has previously said that they have not made a plan B, and that their mandate was to complete the agreement. – We know that the club will have big problems quickly if the agreement does not go through, Fredriksen said when the agreement was presented on 4 June. The club has also looked at other possibilities. – But the conclusion is that this is the best option for the club, without a doubt, said general manager Sveinung Hedding-Valvik. The queue stretched far outside Sør Arena before Start’s extraordinary annual meeting started. Photo: Kjetil Samuelsen / news Published 18.06.2024, at 19.51 Updated 18.06.2024, at 22.52
ttn-69
Start’s future decided – members say yes to American investors – news Sørlandet – Local news, TV and radio
