Scottish Football League side Clyde FC has voted to become a member owned club and has ditched its limited liability company status.
The move means every member of the Community Interest Company will be entitled to vote on all issues involved in running the Irn Bru Football League Division Three club as well as Clyde offering full transparency concerning financial issues, allowing members to keep a close eye on the club’s economic status. The club is also prevented from borrowing to pay wages.
Speaking to the club’s official site, chairman John Alexander said: "Football is a precarious business, we have agreed a new set of rules and that means that this club will never again risk its future on unsustainable dreams and debt.
"The club has developed a sustainable model of operation and this is enshrined in the new structure. The ethos will be to promote a successful football club that will encourage and develop sporting opportunities and activities in the community.
"This ground breaking change is not a final step – rather it’s the first step in the rebirth of a great club."
The decision sees the club revert back to its origins, having been formed in 1877 as a members’ club.