A supporter of the Wellington Phoenix football team says the partial sale of the club to its fans would not work.
The idea has been put forward by the club's chief executive as a way to ensure its survival, in the face of legal action by the Inland Revenue Department against the company that owns the Phoenix.
The IRD is suing Century City Football and four other companies owned by property tycoon Terry Serepisos for total debts of $3.5 million.
A spokesperson for the Phoenix supporters club, Yellow Fever, says its 5000 members are unlikely to have the money or the numbers to make investing successful. David Cross says they could not cover the club's losses.
