Waterhouse FC Plans Company Shift As Jamaican And Overseas Investors Show Interest

Waterhouse Football Club is preparing to restructure from a non-profit organisation into a limited liability company, with chairman Bruce Bicknell saying strong investor interest has emerged from Jamaica and overseas.

Bicknell said the club has been looking for ways to strengthen both its finances and its management operations. Discussions with potential backers have advanced, he said, and Waterhouse is moving closer to an agreement with major investors from abroad who are expected to take shares in the club.

"Hopefully we will have more investors in the club, which is something in the pipeline as we speak and we will speak about it more thoroughly in a few weeks," Bicknell said.

He said the interested parties are not seeking a passive role. Instead, they want ownership positions, which is why the club is now moving away from its current limited-by-guarantee structure and toward a limited liability company model.

Bicknell said the incoming investors want to hold a percentage of Waterhouse. He described the club as being in a transition from non-profit status to a company with active shareholders, including foreign participants.

"We actually have confirmed (investors) via emails, but we haven't signed a contract as yet," he said.

Beyond results on the pitch, Bicknell said Waterhouse also wants to expand its earnings by becoming more involved in exporting players to international markets. He expects coach Javier Ainstein to be important to that plan.

Bicknell said Ainstein's background in Argentina, along with his work in Panama, has given him experience with player transfers and should allow him to play a significant role in that area for the club.