Posted: Mon 14th Sep 2020

Updated: Mon 14th Sep

“Bid to purchase club” by anonymous ‘well known high net worth individuals’ revealed by football club fan owner group for people living in or visiting the wrexham area
This article is old - Published: Monday, Sep 14th, 2020

Wrexham Supporters Trust board have announced a bid has been made to purchase the football club.

Speculation had been mounting after fans were advised to renew their memberships to ensure they were able to have a vote in matters affecting the club.

In a statement today the WST said, “An approach to invest in Wrexham AFC Limited has been received by two extremely well-known individuals of high net worth, advised by credible and professional advisers (“the Investors”).

“The Investors would wish to purchase the entire issued share capital of Wrexham AFC Limited for a nominal sum and immediately invest £2 million into Wrexham AFC Limited, for the purposes of taking the club forward as a business and as a successful football team (“the Offer”).

“Until members have authorised the board of the WST to proceed with discussions, the investors have indicated that they wish their identities to remain confidential.

“The WST and external professional advisers consider that the indicative offer is entirely credible.”

In the resolution documents, an additional statement says “The Investors have indicated that they wish their identities to remain confidential until members have authorized the board of WST to proceed with discussions. However, the profile of the Investors is such that there is likely to be a significantly increased profile for the football club and very substantial commercial opportunities going forward. The identity of the Investors will be made known to members in the notice of any emergency general meeting called to approve a transaction.”

A meeting has been called for 7pm on Tuesday September 22nd to decide if the WST board can “proceed with discussions”, and is not a vote to agree or disagree to a takeover.

The WST say more information will be published later today via a list questions and answers and another set of FAQs ahead of the Special General Meeting.

The WST currently own 100% of the football club, after taking control of the then debt laden loss making club from ‘businessmen’ Geoff Moss and Ian Roberts.

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