Hunslet have announced that the club will remain supporter-owned, rather than adopt a proposed hybrid supporter-investor ownership model.
The decision was taken following a meeting held late last week, which included a Q&A with non-executive director Damian Irvine, who has been a part of the team conducting a ‘due diligence’ review.
The evening also featured a presentation from outgoing chairman Neil Hampshire, who explained that the “small number” of investors expressing an interest was a key factor behind the decision to remain supporter-owned.
It was also noted that the work required to set up a separate Investment Group company to support a hybrid support-investor ownership model would not be cost-effective.
Hampshire stressed that the club remains open to considerations of returning back wholly into private ownership, but that it was important that any offer be to the benefit of the club as well as any individual or consortium.
Irvine and fellow director Jason Peterkin “remain committed to involvement at the club” and the forecast debt to the end of the 2020 season of £30,000 has been reduced by £27,400.
Investors said they were prepared to underwrite any shortfall and work with the club to assess how and when funds would be provided.