Ryan Bertrand leads £87m minority investment proposal at AFC Wimbledon put to fan vote

Former Chelsea and England defender fronts £87m bid for Dons stake

Former England defender Ryan Bertrand is leading a consortium that has proposed an £87m minority investment in League One club AFC Wimbledon, in a deal now put to a vote by the club's fan-ownership body.

Bertrand, who made 19 international appearances for England during his career, is at the forefront of a group with British technology expert Omar Mir. Mir is the sole funder of the proposed minority share buyout through investment vehicle Sloane Street Capital (SSC).

How the £87m would be structured

The Dons Trust board presented the proposals to its members on Wednesday night. Under the terms, SSC would invest £16m on completion for a minority 34% of the shares in AFCW PLC, the company that runs the club. The remaining £71m would be spread over five seasons through to the 2030-31 campaign.

If the deal is successful, SSC would oversee football operations, led by Bertrand as senior football advisor, but would work within budgets and processes agreed by the AFCW PLC board.

Fan control protected

The Dons Trust currently own 50.01% of the voting shares of AFC Wimbledon — a structure designed to ensure the club remains fan-controlled. Under the proposed deal, the Dons Trust voting rights would be unaffected, and they would hold veto control of the Cherry Red Records Stadium freehold.

Other protections include SSC taking two of the 12 seats on the club board plus an observer position, while the Dons Trust would retain a veto over the club's name, badge, colours, ground and constitution. Should SSC sell its stake, the Dons Trust would have first refusal and could block unsuitable investors. If SSC missed a payment, its share of the club's value would stop growing immediately and control would return to the club within three months.

Stuart Fiertz, co-founder of investment management company Cheyne Capital, and sports executive Oliver Ward would join the board if the deal is ratified.

Bertrand: 'We are not here to change what this club is'

Bertrand, who won the Champions League, FA Cup and Europa League with Chelsea during his career, said: "AFC Wimbledon's story is unique in English football and it was built by its supporters. We felt at home from our very first meetings. We are not here to change what this club is. We are here to help it go further on and off the pitch, for the men's team, the women's team and the academy. It would be an honour to join the Wimbledon family and help write the next chapter, and we look forward to meeting members and answering their questions over the coming weeks."

The vote

The voting period for Dons Trust members to decide on the proposals ends on 17 November. Earlier this year, 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.

Angus Fox, chair of the Dons Trust board, said: "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."

AFC Wimbledon moved to the Cherry Red Records Stadium, close to the site of their old ground at Plough Lane, in 2020.