Ex-director concern over Lincoln City investment
Former Lincoln City director Chris Travers says greater consultation was needed over a recent £500,000 investment in the club.
Travers believes the way it was done, involving forming a holding company, could make the club unattractive to other potential investers.
He told BBC Lincolnshire "The perception now is that Lincoln City as a football club is a closed shop.
"To not talk to a lot of the other major shareholders disappointed me."
Travers stood down as vice-Chairman in June 2011 but remains a major shareholder.
He said: "For me it's about perception, as I understand it one of the reasons behind doing this is to attract outside investment. In reality the perception now is that the football club is run by a small cabal of people".
He did however praise the investment made by the current Imps chairman Bob Dorrian, existing board members the Lindum Group and the Lincolnshire Co-Op.
"I admire and thank Bob for putting that sort of investment into the club to protect it, in what I think is only the short term".
As part of the investment, a new holding company, which includes the Lincoln City Supporters Trust, was formed which effectively runs the club.