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Daggers change of ownership: should we... Stay as we are (Members Club) Go with the East Consortium Go with the Tamplin Consortium Look for another solution View Current Standings

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Sold? AGM Confirms Hopkin Consortium by Hardy on 20/01/2017 After months of turmoil it looks like the ownership of the Daggers was finally settled after a vote at the AGM held earlier this week. AGM Confirms Hopkin Consortium As reported here in December a bid for the Daggers from a consortium led by Glyn Hopkin was voted on by Full & Life Members at the club AGM on Wednesday 18th January 2017. A statement from the Club issued today has confirmed that the bid was accepted in principle by the Members. There is still legal work required to restructure the business from a company limited by guarantee into one that can have shareholders, which we understand will take around eight weeks to complete, after which a second vote will be required to formalise the change. Club Statement After a period of several months the Club is pleased to be able to announce that a proposal by a consortium of existing Directors to invest a total of £1.3 million into the Club was overwhelmingly accepted by the Full & Life Members. The tenth Annual General Meeting of Dagenham & Redbridge Football Club Ltd held on Wednesday evening heard from lead investor, Glyn Hopkin, on his ideas for building on the success of the Club over the past 20 years, on improvements to facilities and in driving up revenue. Whilst acknowledging the successes’ he recognised the need for investment which in turn would hopefully bring further success on the pitch. Glyn will bring his considerable business expertise gained as a very successful local and regional motor trader to bear on the club. Plans are already in place to recruit a new Commercial Manager. The new Board of Directors will include a Non-Executive Chair, Mr Paul Gwinn JP, consortium members Dave Bennett, Glyn Hopkin, Stephen Thompson MBE and David Ward plus a representative of the existing Members who, under this proposal, will retain 26% of the shares in the holding company of the Club. It was also announced that the investment negates any short term requirement to sell players as has happened in the past and allows the manager to plan more long-term. It was noted that the process set in action last night will take some months to complete but both Paul Gwinn and Glyn Hopkin welcomed the strong support shown at the meeting and expressed the wish to engage with all sections of the club and supporters to achieve the one main goal of a sustainable club, delivering success on and off the pitch. Analysis On the surface this looks a decent result for the club, with Glyn Hopkin a well known and very sucessful businessman who has had long term links with the Daggers, including having his company as stadium sponsor between 2003 and 2006. The deal will see Hopkin as a majority shareholder with 57%, with David Ward, Dave Bennett and Steve Thompson also having shares. Club Members retain 26%. A separate vote on a motion of no confidence in the current board, which was reported here in December, secured just three votes, less than the number of people that originally signed the letter. This was a somewhat deluded action to be honest with limited support from the Members and reflects quite badly on those that instigated it. That the consortium includes Dave Bennett and Steve Thompson, who have been judged by a number of people to have been part of the problems that have led to the club needing investment in the first place, will no doubt be contentious. It remains to be seen how much day to day involvement Glyn will have in running the club or whether Steve Thompson will retain overall day to day management of pretty much everything that goes on at Victoria Road. The immediate move to hire a commercial manager, something that is needed desperately in our opinion, is a decent start. DiggerDagger.com has been declined the request for a formal interview with Glyn Hopkin at this time but are advised that he will be putting his thoughts on the takeover and his plans for the Daggers via the official website and match day programme. We understand that he has already met with the Supporters Club Committee to discuss his plans and listen to concerns. We would like to wish Glyn and the other investors all the best going forward.