In the era of wealthy backers coming into clubs at all levels of the game, is the time of supporter-owned clubs over?
Overend says that while it is becoming more difficult to compete, results show that a club like Exeter can be successful using their ownership model.
“We have proved that we can survive in League One and League Two under the model,” he added.
“The question is can we make that step up to the Championship? And I think the answer to that is ‘can it be achieved under the [Supporters’] Trust model?’ Yes, at a stretch.
“Can you be sustainable in the Championship under a Trust model? My best assessment is probably not.
“I’d like to think that we could prove them wrong, but the glass ceiling between League One and the Championship is huge.
“I remember when Yeovil went up to the Championship and I was chair of the Trust and everyone was saying ‘look what Yeovil have done, isn’t that amazing, look at Yeovil, you should do that’. Well look at Yeovil now.
“My rational self would say I think it would be very difficult, if it was possible at all, to get in and remain in the Championship under the current mode.
“Would I like to think we could? Of course I do.”