Ryan Bertrand leads consortium proposing £87m minority investment in AFC Wimbledon
Former England defender Ryan Bertrand is leading a consortium that has proposed an £87m minority investment in League One side AFC Wimbledon, with the Dons Trust board presenting the proposals to its members on Wednesday night. The proposed investor is Sloane Street Capital (SSC), funded solely by British technology expert Omar Mir.
Bertrand made 19 international appearances for England during his career and played for Chelsea, Southampton, Aston Villa and Nottingham Forest. He won the Champions League, FA Cup and Europa League with Chelsea. SSC would provide £16m on completion for a minority 34% of the shares in AFCW PLC, the company that runs the club, with the remaining £71m spread over five seasons to the 2030-31 campaign. AFC Wimbledon moved to the Cherry Red Records Stadium, close to the site of their old stadium at Plough Lane, in 2020.
If the deal is successful, SSC would oversee football operations with Bertrand in a senior football advisor role, while working within budgets and processes agreed by the AFCW PLC board. The Dons Trust currently own 50.01% of the voting shares of AFC Wimbledon, a structure designed to keep the club fan-controlled. SSC is presented as the lead external investor operating alongside the existing board framework.
Under the terms of the proposal, the Dons Trust's voting rights would be unaffected and it would retain veto control of the Cherry Red Record Stadium freehold. Other proposals include SSC taking two of the 12 seats on the club board, plus an observer position. The Dons Trust would keep a veto over the club's name, badge, colours, ground and constitution.
Stuart Fiertz, co-founder of the investment management company Cheyne Capital, and sports executive Oliver Ward would join the board if the deal is ratified. Should SSC sell its stake, the Dons Trust would have first refusal and could block investors they deemed unsuitable. The terms also state that if SSC missed a payment, its share of AFC Wimbledon's value would stop growing immediately and control would return to the club within three months.
Earlier this year, Dons Trust members voted in favour of external investment on the proviso that fan ownership and control were protected; since then the board has considered more than 20 potential investors, with SSC emerging as the strongest. AFC Wimbledon's lawyers have completed source-of-funds and background checks on the individuals involved in the consortium. The voting period for Dons Trust members to decide on the proposals ends on 17 November.
"The deal brings at least £87m into AFC Wimbledon over five years, while the Trust keeps a permanent majority of the votes, control of the Plough Lane freehold and a veto over everything that makes us who we are. We have set out the factors to weigh as plainly as the opportunities. The board recommends a yes vote, but this is our members' club and our members' decision." - Angus Fox, chair of the Dons Trust board.