Plans to wipe out club's debt

icon tranmere132 November ~ The history of the supporters' trust movement is littered with stories of fans coming to the rescue of their clubs in times of crisis. The Tranmere Rovers Trust, who were originally set up in 2002, are attempting to buck this trend by mounting a takeover bid for the shares of millionaire majority shareholder Peter Johnson at a time when the club is in a relatively financially stable state. On October 27, the Trust announced that they are attempting to raise £500,000 by the end of the year in order to acquire Johnson's shares.

Details of the negotiations are protected by a non-disclosure agreement, but the Trust have been said that the proposed deal will wipe out the club's £5 million debt to Johnson and leave them debt free by 2016. More information can be found on the Tranmere Rovers Trust's website.

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