East Fife supporters are preparing to formally launch their community takeover of the club.
The East Fife Supporters Society – previously the East Fife Supporters Trust – will this Friday officially launch their bid at a race night event.
The society has hired a professional consultant to create a business plan after around 180 fans expressed an interest in contributing financially.
Subscriptions from those who have shown interest will begin to be collected at the race night, which will be held at the Methil Club on the town’s High Street and starts at 7pm.
“The business plan envisages East Fife always being a senior football club and having an aim to progress through the leagues over the next five years,” said the society’s chair Eugene Clarke.
Clarke is the society’s spokesperson, an East Fife fan and Lib Dem councillor for Leven, Kennoway and Largo.
“Much will depend on the financial situation, but from what we’ve gathered we think we have good plans that will be able to boost income,” he added.
East Fife Supporters Society to make use of government loans
The society will look to use a low-interest loan via a government scheme as part of the funding for the move to acquire the 103,000 shares – around 52% – in East Fife FC owned by Bayview Fife Ltd.
That scheme was recently accessed by Falkirk and saw the club’s Supporters Society loaned a six-figure sum.
East Fife’s shares are controlled by businessman Neil Rankine but Bayview Fife’s sole shareholder listed on Companies House is Lorraine Twigg, a former friend of Rankine.
Any buyout would involve taking over East Fife Football Club Ltd, Bayview Stadium and a 30-metre perimeter of land around it. It would not include the training ground.
Formal contact has been made between the East Fife Supporters Society and Rankine and an offer will be put together in the coming days.
