Protecting Our Ownership of Plough Lane Stadium
The Dons Trust have put together a document explaining why the Dons Trust board (DTB) believes our current ownership structure is the best way to safeguard Plough Lane stadium. It was produced by the DTB with external expertise. You can download the paper here: DT-Asset-Ownership-Paper-Final Revised 250924
Here’s a breakdown:
Why is protecting Plough Lane important?
- AFC Wimbledon fans rebuilt the stadium after losing the first Plough Lane Stadium due to ownership issues.
- We want to ensure we never lose control of Plough Lane again.
Current safeguards:
- AFCW PLC owns Plough Lane freehold (land ownership), and therefore it is controlled by the Dons Trust members who have majority ownership of the PLC.
- “Restricted Actions” (RAs) are written into the Trust’s constitution. These limit actions that could threaten ownership or fan control.
Review of other ownership models:
The paper looks at five alternative ownership structures for stadiums:
- Joint Ownership (e.g., Huddersfield Town): Not ideal because it relies on multiple parties with differing interests.
- Golden Share (e.g., Brentford): The Trust already has a similar (but much better) power structure through majority ownership.
- Local Authority Ownership (e.g., AFC Telford United): Past experience shows this model might not offer long-term protection.
- Chelsea Pitch Owners (CPO): This model has some advantages.
- Limits share ownership and voting power to prevent concentrated control
- Protects the stadium for football use only
- Grants control over the club name (with limitations).
However, the report by Supporters Direct (SD), finds drawbacks:
- Not a true “one member, one vote” system like the Trust
- Potential for individuals to exploit loopholes and gain control
- Limited community involvement beyond stadium ownership.
5. Sale and Leaseback: Selling the stadium to a third party for immediate cash is a risky option. The club loses control and could face unfavorable lease terms.
Conclusion:
The DTB believes the current Dons Trust ownership with “Super RAs” offers the best protection for several reasons:
- Maintains fan control: “One member, one vote” system ensures everyone has a say
- Allows for future development: RAs can be adapted to permit building commercial spaces around the stadium for long-term income
- Protects Plough Lane as a community asset: The stadium remains dedicated to football and community use
- Super Restricted Actions: We will be introducing Super Restricted actions at the next SGM which mean that any changes to Plough Lane ownership would need approval from 90% of our members.
Overall, our existing Dons Trust ownership structure, with potential Super RAs, offers the best combination of fan control, financial flexibility, and long-term protection for Plough Lane.
You can download the paper here: DT-Asset-Ownership-Paper-Final Revised 250924