Carlisle United would like to provide the following update on the recent filing at Companies House with regards to shares:
Funds to finance the club are solely provided by the club’s owners, the Piatak family, via Palm Sports LLc.
Cash comes into Castle Sports Group Limited (CSG) by its issuing shares and then this flows through into C.U.F.C Holdings Limited as “B” shares before finally the cash goes into Carlisle United Association Football Club (1921) Limited.
As was detailed in the club update to Carlisle United Supporters Groups on the 20 January 2024 HERE and HERE - equity share issues will start to be made by CSG as part of the financing of all this club investment. The first share issue took place recently with papers filed at Companies House.
Chief executive Nigel Clibbens explained the issue of shares and the transaction:
“As supporters know, there has been a large investment in facilities off-the-field at Brunton Park since the change of owners and especially since closed season in 2024.
"This has been the biggest infrastructure investment in the club for over 25 years - all in the first year of the new ownership. This is continuing. At the same time significant funding has been provided to invest, modernise and upgrade all aspects of football operations and activities.
"The equity share issue of £2m by CSG is the first that will take place between now and the financial year end on 30 June 2025. This follows the same arrangements as made in the previous year following the change of ownership. Others will follow in the coming months.
"It also ensures the club’s balance sheet and capital base is strengthened even further, the club has all the cash it needs and its financial structure continues to be strong and low risk. It means the funding required for all the investment and the day-to-day operating needs of the club in the 24/25 financial year will continue to be in the form of equity capital (rather than debt)."
