Causeway Chronicle

Coleraine take-over completed

THE Board of Coleraine FC (“CFC”) and the Friends of Coleraine (“FOC”) have entered into an agreement with Ranald McGregor-Smith and Patrick Mitchell through which ownership of the Club will be transferred to Bannsiders Holdings.

Following considerable due diligence conducted by all parties, the sale of the single share and therefore the ownership of Coleraine FC has been completed.

Bannsiders Holdings is led by Ranald McGregor-Smith and Patrick Mitchell, who both attended school in Coleraine and retain very strong family ties to the area. They have been supporters of the Club for many years.

CFC Chair, Colin McKendry, welcomed the conclusion of the transaction by highlighting the opportunity afforded by an infusion of new directors and investment while acknowledging the continuity which the parties would bring to the Club.

“Since 2006, the Friends of Coleraine and, subsequently, the Board have together resurrected the club, building a great team both on and off the field, working with and for supporters, and contributing to some great footballing achievements.

“The sporting landscape is changing, quickly and dramatically. If we are to maintain the momentum we have built as a leading club in the Sports Direct Premiership, winning trophies and playing in Europe, the Club must grasp opportunities as they are presented.

“Ranald and Patrick are very successful businesspeople. While their success was earned internationally, they have strong ties to the area, and they have decided that, to give back to their community they would invest into the football club. We welcome that decision, providing both continuity for the Club and more opportunities for success., In that spirit, we have worked closely together and we are all excited to get started.

“There will be change as we implement a move towards a full-time playing model, including some additions to the Board. However, a crucial element for all of us is to take along our fantastic fans together with our amazing and talented volunteers.

“It’s a great journey that we are on, and the hard work of the next phase starts today.”

Ranald McGregor commented, “This is not a vanity project for Patrick and I. Coleraine is our home town and the Bannsiders have been a part of that town for as long as either of us can remember.

“When the chance came up to invest in the Club, we approached it with head and heart. As businessmen, we knew of the changes in football across Europe and the opportunities that these changes bring. As local men, we wanted to see our club get the most of this situation.

“Our watchwords are continuity and opportunity. We know that helping a club succeed can only be achieved with the continued support of the fans, the volunteers, and the playing staff. Our job is to help the Board get the most out of the fantastic opportunity it has created since 2005.

“We will do this by concentrating on the business of running a football club. The fans deserve to have a team which is as well supported by the Club as it is by them. The team deserves all the resources it needs to succeed.

Patrick and I believe that we can provide that support and continue the success which Coleraine has achieved and will achieve in the future.”

Patrick Mitchell supported Ranald saying, “We are delighted to come on board as the Club starts to prepare for its centenary. It’s our ambition that what we’re doing will create sustainable foundations for the next hundred years of the Club’s life. We want to punctuate that with regular success and the excitement that brings to the whole region.

“Ranald and I both really appreciate and acknowledge the work of the Friends of Coleraine and the Board for their stewardship of the club, and we want to thank them all.”



Causeway Chronicle

Causeway Chronicle