Cowdenbeath supporters are to be represented on the board at Central Park after acquiring a ten per cent stake in the club.
It is the first step in a move it is hoped will lead to fan ownership in the future.
In an agreement struck with the Lowland League side last year, The Cowdenbeath Independent Supporters Society (CISS) have now invested an initial £15,000 in the club.
That will entitle the group to nominate one director to sit on the Blue Brazil board.
It is hoped CISS can pump another £15,000 into the club by the end of July.
If they meet that deadline, it would take their shareholding to 20 per cent and see the body select another club director.
The ultimate goal of CISS is for Cowdenbeath to join the likes of Hearts, Motherwell, St Mirren and Stirling Albion in becoming a fan-owned club.
A statement read: “The Cowdenbeath Independent Supporters Society are proud to announce that they have made their first-ever investment in Cowdenbeath FC (CFC).
“In 2023, the CISS was founded with its key aim being initially to acquire a 20 per cent shareholding in Cowdenbeath FC (gifted by the principal shareholder) in return for a year-one donation of £30,000 to CFC by 31 May 2024.
‘Ultimate intention’
“This would additionally entitle the CISS to nominate two candidates to become directors of the football club.
“Thereafter, annual donations would continue, with the ultimate intention being that Cowdenbeath Football Club in time could potentially become a fan-owned football club.”
A delay in getting CISS off the ground has meant a revised proposal was agreed, which allowed for half the investment to be made by May 31 and the other portion by July 31.
The statement continued: “The second director would then be appointed to the CFC board and the CISS shareholding would increase to 20 per cent.
“The CISS nominated directors would of course be full board members on a par with the club’s existing directors.”
The CISS statement included a response from Cowdenbeath, which said: “We are really delighted to receive this investment from the CISS, not least bearing in mind the budgetary pressures facing the club with residual SPFL funding now largely gone.
“Indeed, we are humbled by the ongoing commitment and assistance that our supporters continue to provide to Cowdenbeath FC.
“Both parties we are sure view this as potentially the beginning of a new era at Central Park – the first milestone passed in a prospective transition process.”
