After several abortive attempts, the club was floated in the summer of 1912 as a Limited Company called 'The Southport Central Football Club 1912 Limited -with a share capital of 2000 Ordinary ten shilling shares. The original directors were George R Cranshaw, George H. Collinge, James Hamer, Harry Rimmer, John Walmsley and Joseph Winterbottom.
Although it was stipulated that any shareholder with more than fifty shares would be entitled to free season tickets the organisation did not create much interest among the general public; indeed, only twenty-three subscribers (beyond the eleven guarantors) took out shares. With the team also struggling, the directors offered each player a free transfer or a cut in wages. Former Welsh international Moses Russell joined Merthyr, Fred Pagnam later to become a prolific goal-scorer with Liverpool, Arsenal and Watford - went to Blackpool and Charles Pinch was signed by Preston North End. And all that after the season had begun well with five consecutive victories.