Bath City announce agreement to become a CBS

Conference South outfit Bath City say they are "delighted" to have "created a pathway" into becoming a Community Benefit Society.

"Big Bath City Bid" are raising money in order to make Bath City a fan-owned club and are aiming to raise £300,000 by September 16.

In a statement, Bath City FC said: "We are delighted to announce that, following lengthy and amicable discussions, agreement has been reached between the majority shareholders and the Supporters' Society to create a pathway towards Bath City becoming a Community Benefit Society (CBS).

"The society have aquired financial support outside of the bid process to provide working capital during this interim period. This finance has been the catalyst in providing the majority shareholders with the confidence they required.

"Subject to shareholder approval, the club will increase its share capital with the new shares being acquired by the society so that with its existing shareholding and some shares presently held by the majority shareholders, it will have a shareholding of over 50%.

"The current majority shareholders will retain a 25% shareholding for an interim period, while a new board oversees the redevelopment of Twerton Park.

"We appreciate that shareholders and supporters will have questions regarding the agreement and will will endeavour to answer all of these at the appropriate time.

"We urge all supporters, and the Bath population as a whole, to "Back the Bid" and make this historic agreement become a reality."

 If you would like to Back the Bid you can follow it on Twitter, visit the Facebook page or the website.