Investment in Cowdenbeath FC

The Cowdenbeath Independent Supporters Society are proud to announce today that they have made their first ever investment in Cowdenbeath FC. On receiving a cheque for £15,000 from the CISS, Cowdenbeath FC responded saying, "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."

This followed on from the Cowdenbeath Independent Supporters Society AGM held at Central Park on Thursday 9 May where CISS members were updated on the progress made by the Society thus far. The accounts for the initial operating period of the Society were approved by the Membership and the Membership then formally elected the first board of Directors of the CISS. This allowed the members of the original steering committee to step down after delivering all the agreed objectives in the start-up phase. The new CISS Board comprises John Jones (Chairperson), Aaron Dougan (Secretary), David Henderson, Ross Cameron, Steven Ferguson and Gordon Anderson. A fuller update will be provided to all members shortly.

In 2023 the CISS was founded with its key aim being initially to acquire a twenty percent 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. 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.

There was a little bit of a time lag in getting the CISS fully underway (not unusual or unexpected given the administrative aspects to be addressed). Reflecting this, a variation was mutually agreed that if £15k was subscribed to CFC by the CISS before May 31st one Director should then join the CFC Board with a 10% CFC shareholding being transferred to the CISS. A further two month grace period then would follow up until 31 July 2024 to allow for a second tranche donation of £15k. The second Director would then be appointed to the CFC Board and the CISS shareholding would increase to 20%. The CISS nominated Directors would of course be full board members on a par with the club’s existing Directors.

This then led to CISS making their initial investment in the club last week. Suitable arrangements are now being put in place re the share transfer and nomination of a Director by the CISS. The aim now is to build on what has been achieved so far and to do so the CISS asks for all Cowden fans to play a part by joining its ranks – together we can help shape the way ahead for our club. We also now have many ex-players in place as CISS Ambassadors with Neil Irvine as our Honorary President. They are actively involved in aiding the CISS to deliver on its objectives. Our next goal is the second phase investment in the club by 31 July to unlock the further 10% shareholding and second club directorship. We therefore urge all those with Cowdenbeath FC in their hearts to join the CISS now – let’s build that momentum and build the future today.