I've sent some notes to a couple who sent me PMs. mainly covering some things that need to be done and some things to watch out for, from our own experience.
More generally, if I understand correctly all I have read, Wakey is crying out for a Supporters' Trust right now.
You have a totally different situation (for now!) than Bradford, and we pitched our own Trust primarily as a vehicle for raising funds for junior development and secondarily as a conduit between fans and club. Modeled very much on the Warrington Trust, in fact. We did not set a primary objective as being represented on the Club board or owning shares in the club, since we'd never make any headway with that at the moment and the club anyway does not need it - although that remains an aspiration maybe down the track a bit.
However, it looks to me that you may need to raise and inject funds via a ST to save the club. A rather more urgent and serious undertaking! Supporters' Direct have plenty of experience in helping to set up Supporters' Trusts with this objective primarily in mind, and you definitely need them to work with you to go down this route.
I would also urge you to try and rally as much experienced support, across the various disciplines that you will need (financial, legal, company secretarial, marketing, PR, IT, website, fundraising, networking etc) as early as possible, and try and get as many of such disciplines properly represented on the Society Board.
And, very importantly, make sure that anyone who stands for the Society Board is there for the long haul and is prepared to make the hard yards. This isn't something to get you kudos and show how important you are as an individual - its hard (but rewarding) work for the greater good. And needs a reasonable degree of commitment. In particular, I suggest you need to make sure whoever takes on the three principal offices - Chair, Secretary and Treasurer - are fully aware of what those offices involve, and what expertise is required.
It takes time to get a Supporters Trust set up and registered- not least because you have to wait on the FSA - so if time is of the essence you need to get moving ASAP.
I hope this does not come across as lecturing, because its not meant to be. Its meant to be trying to help by sharing experience, both from our own trust and from my wider experience of such organisations.
I've seen various people posting on this forum who are clearly very clued up and experienced across various fields (even if one or two have from time to time chosen to have a go at me), so I'd doubt you'll want for the necessary experience and expertise.
Good luck guys, and my very best wishes and hopes for your success.
