Club statement

Cowdenbeath Football Club has taken another significant step towards securing its long-term future and the transformation towards a 21st century community football club.

In an amicable agreement, the Brewster family - Alex, David and Scott - will remain as majority shareholders but will step down as directors and handover full full control of the running of the football club to the remaining board members. The consortium - led by Donald Findlay QC along with local business people and supporters - was put in place by the supporters' Action Group and elected to the board last summer.

The Brewsters will retain ownership of GMP Ltd (stock car company) and Central Park.

The new board met for the first time on Saturday morning with its first act the appointment of Colin Cameron and Lee Makel as the new management team.

Findlay said: "The latest development moves us a step closer to fulfilling the supporters' ambitions for the football club to become a community-run venture."

"We have signed a two-year security of tenure agreement which will ensure that the football club will continue to operate from Central Park until at least the summer of 2013. In the meantime, we will continue to work with the Brewsters on our joint efforts to build a new community stadium, which will be owned by the football club, in the town.

"Our vision will also see continued progress towards changing the ownership status of the club from privately owned to a Community Interest Company. In addition, we will become significantly more active in the local community in the coming year with the introduction of the Blue Brazil Community and Schools programme.

"We also fully intend to push for promotion back to the 1st Division this season and will give Colin Cameron our full support to do so while continuing to operate within our means. The club made significant losses in recent years but we came close to breaking even last season and expect to go one step better this time around.

"This is an exciting challenge for the community of Cowdenbeath and we will only succeed if the town and wider community get behind the club with additional support. We will need more people through the gate on match day, additional fundraising and volunteers."

The new board is as follows: Donald Findlay QC (Chairman), John Lints (Vice- Chairman), David Allan, John Cameron, Neil Fentie, Sandy Ferguson, Margaret Graham, Bob Paterson and Malcolm Slora.