A PACKED out Riverfront Theatre heard plans for the future of Newport County AFC tonight.

More than 500 Exiles fans were estimated to be in attendance as Supporters Direct representatives James Mathie and Nick Igoe explained the process behind a Supporters Trust takeover.

Trust representatives Lisa Savage, Phil Sergeant, Jon Bowkett and Shaun Johnson also answered fans' questions as the process of County becoming fan run and owned club was underlined.

The meeting began with Mathie outlining the criteria for being a supporter-run club, which would work on a one member, one vote basis with a board elected by the members.

It was explained that Newport’s various supporter groups will be given fund raising targets going forward.

Supporters Direct representative Igoe, a former employee of West Ham United, explained that his findings from the due diligence report were confidential due to an agreement with the club, but he confirmed the Trust have seen the books. He also underlined the key to prudent financial management of a football club.

Mr Igoe estimated the fans will need to raise between £300-500,000 in order to take control of the club, with the repayment of director loans the primary overhead. The funds will be raised by a community share offer and other fund raising schemes. An interim board would be installed at this point.

Mr Igoe explained that the club had lost more than £2 million since 1989 and that the finances last season at the club were unsustainable, with County having the tenth largest wage budget, but the 20th largest turnover in the division. It is projected, however, that the club will make an operating profit this season, not disputed by Supporters’ Direct.

Going forward, fans are urged to join the Trust, which will cost £10-a-year, or donate money into the holding fund.

Supporters Trust representative Shaun Johnson also outlined plans for the board composition, which would see five elected board members working alongside general manager Jason Turner.

They would all be the lead executives for various sub-categories, including compliance, commercial/finance, community, fundraising and fan engagement.

In the short-term, Trust member Johnson explained that the key messages to take home from the meeting were that in order to take over the club, the Trust must: Know the extent of debt and liabilities; Raise enough money to have ample capital and pay off debts; And abide by the governance principles.

There are currently four Supporters’ Trust-run clubs in the Football League, Exeter City, Portsmouth, AFC Wimbledon and Wycombe Wanderers.

Former County midfielder Mike Flynn was among the supporters in attendance. He has been tipped as being potentially involved in the Trust.