On the subject of fan ownership, my club Exeter has been fan owned since 2003. We did admittedly receive two lucky breaks - the owners were desperate to sell due to a combination of relegation to the Conference and the fact two of the directors during the 2002-03 season were subsequently convicted of fraudulent training. The club was heavily in debt and entered a CVA in 2004. The second piece of luck was that having beaten Grimsby and Doncaster in R1 and R2 of the FA Cup, we drew Manchester United away, for which we received 1/3 of the gate receipts. A 0-0 draw followed by a televised replay helped even more.
The general consensus is that we've achieved more under fan ownership than we managed in 80 years as a league club under private ownership. 3 promotions and just 1 relegation, a joint highest post-war league position in 2011 of 8th in L1, redeveloping two of our aging stands, redeveloping the training ground and investing in our youth academy which has produced players such as Ollie Watkins and Ethan Ampadu.
We've had some luck as acknowledged above, but most fans are pretty content with Trust ownership. We do have a glass ceiling in L1, but we never got very close to going further than that under private ownership, and the last time it even looked possible was circa 1980. When you consider the number of clubs whose fans have disgruntlement (to say the least) with current or recent owners, few of us would swap.