Rugby League: Eagles leave door ajar for new investors

Rugby League.
Rugby League.

SHEFFIELD Eagles hope to open the door to major new investors by more than trebling the number of shares it can issue.

The club was established in 1999 with a ceiling of £200,000 on the authorised share capital but the board wants to increase this to £750,000.

The maximum individual shareholding would be lifted from 15 to 30 per cent, under proposals to be put to the annual general meeting later this month.

The club won it’s first Championship title last season but faces the loss of it’s home ground when Don Valley Stadium is demolished in September. Success on the field has not been reflected in increased attendances.

Chairman Ian Swire says if the club is to gain a place in the Super League it has to show it is “capable of adding something to the competition and not being merely a passenger”.

He added: “Over the last few months, we have been approached by potential investors who wish to invest substantial sums of money into the Eagles in order to assist these goals.”

The accounts for 2012 show that the club made a small loss of £4,896 compared with a profit of £9,852 in the previous trading year.

Meanwhile coach Mark Aston is facing an Easter games injury hangover ahead of the third round Challenge Cup game with amateurs Leigh East at Don Valley on Sunday.

Prop forward Mitch Stringer faces two to three weeks on the sidelines after medial ligament damage to his right knee left him on crutches while Liam Higgins is recovering from an ankle knock.