Dagenham & Redbridge boss John Still could become part-owner of club

Several parties are interested in investing in Dagenham & Redbridge (pic: Gavin Ellis/TGS Photo) ©TGS Photo tgsphoto.co.uk +44 8450 946026

Recent letter from club to Full and Life members says Daggers boss is part of a four-man consortium willing to invest

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Dagenham & Redbridge manager John Still could be set to invest in the club as part of a consortium, along with Glenn Tamplin, Chris Smythe and Dave Bennett.

In a letter seen by this newspaper, Still is understood to be willing to invest £100,000 in exchange for 10 per cent ownership of the club.

The remainder of the bid is reported to be made up of Tamplin investing £600,000 for a 60 per cent share, with Smythe and Bennett investing £50,000 each for five per cent, for a total investment of £800,000 over an initial two-year period, and the members’ club retaining the other 20 per cent.

The board would then consist of Tamplin, Still, Smythe and Bennett as well as a representative of the members’ club and current managing director Steve Thompson.

That bid has been offered as an alternative to another proposal put forward by Tamplin after a meeting on Friday, involving himself, Smythe and Bennett and the members of the Easts’ consortium, namely Brian and John East, David Ward, Graham Bramley and John Goodwin.

All eight individuals would invest £125,000 each in exchange for a 10 per cent share of the club and an equal vote on the board, in addition to a representative of the members’ club.

Both proposals come after Tamplin and the Easts’ consortium met on Friday to discuss investment plans.

At that meeting, we understand a proposal was put forward by the Easts’ consortium that would have seen Tamplin invest £625,000 for 50 per cent, Smythe and Bennett each invest £62,500 for five per cent and Ward, Bramley, Goodwin and the Easts would have invested £50,000 each for four per cent, while the members’ club would put in £250 for 20 per cent.

Each member would have had a space on the board and an equal vote, but it is understood this proposal, as currently set out, has been rejected by Tamplin.

The letter concludes by saying neither proposal will be recommended to the Full and Life members over the other, and that the club hope to issue notice of a formal members meeting by the end of the week.