We are pleased to provide this update from the recent Q1 board meeting as part of our ongoing commitment to transparency.
Lincoln City Holdings
Nick Ragland, a member of the WMA group, has acquired all 1,000,000 shares of WMA LCFC Holdings LLC and will replace Pablo Webster on the board of directors at Lincoln City Holdings and Lincoln City FC.
Nick is a passionate Imps supporter, having been introduced to the club via the WMA group. He is also co-chair of the board of directors at The Gorilla Glue Company, based in Cincinnati, Ohio. The shares will be held in the name of Sea Island Ventures, LLC.
The board has approved Liquid Investments, Inc. (Ron Fowler’s) planned purchase of an additional 1,250,000 shares. Additionally, 245,000 shares have been issued, including 125,000 to Clive Nates.
We would like to thank all contributors, including the Fowler family and Clive Nates, for their continued support of the club.
Lincoln City Holdings has, in turn, invested in Lincoln City Football Club.
Lincoln City Football Club
Liam Scully (CEO) and Tom Hall (finance director) presented the revised forecast for the year following the close of the summer transfer window. The club is projected to lose just under £3 million this season, excluding potential cup runs or other football-related fortunes.
An update was provided on the Football Governance Bill, which is expected to be tabled in Parliament in October/November. Discussions with the Premier League over a ‘new deal’ have not progressed.
The EFL is currently in talks regarding some changes to spending controls across divisions, with significant progress among League One and League Two clubs. It is hoped that the revised rules for the 2025/26 season will be agreed before the end of the calendar year.
It was also noted that the profile and constitution of League One has changed significantly, with a growing number of clubs similar in size to LCFC undergoing ownership changes and actively investing in their squads.
Liam Scully, Jez George (director of football), and Tom Hall also provided a review of the summer transfer window and squad development. All key objectives set before the window were achieved, though the financial landscape in the division has shifted more than expected.
The provision for away disabled fans was discussed, with plans for mid-term enhancements as part of the wider stadium development plans. Previous discussions with the EFL and Level Playing Field on this matter were noted.
The partnership with Quambio on Sustainability was signed and subsequently announced at the Wigan fixture.
Finally, the 2024/25 Fan Engagement Plan was reviewed and approved. The plan document can be found here