Report on the formation of a limited company to take over Preston Sports Club
16TH. JUNE 2017
At present the Sports Club a simple members’ club. Therefore each member has an equal stake in the club, and is also therefore responsible jointly or individually liable for any debts of the club. A few years ago the club was sued and in theory all or any of the members could have been liable to pay the damages.
The Treasurer has carried out an examination of alternatives.
It is recommended that the Hockey Club supports the formation of a company limited by guarantee to assume the role of the present members’ club, including as the leaseholder of the ground, and the body responsible for the overall operation of the club.