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Posted: Thu 25th Aug 2011

Supporters Vote Yes On Wrexham FC Takeover

This article is old - Published: Thursday, Aug 25th, 2011

Members of the Wrexham Supporters Trust voted a unanimous yes to the trust’s proposed takeover of Wrexham FC at a historic meeting held at the William Aston Hall last night.

The decision was met with a standing ovation as hundreds of fans held up their hands to approve the trust board’s mandate to proceed with the bid.

WST Chairman, Richard Owen said: “The Board of Wrexham Supporters’ Trust is delighted with the unanimous support that it received from its members to proceed with its bid for Wrexham Football Club. We now need all Wrexham fans to pull together to secure the future of the Club and to transform it into a true community organisation that we can all be part of and proud of.”

Trust board members warned that there were unpopular decisions to be made and that they were still awaiting the latest management accounts, and the terms of the £250,000 bond lodged with the Football Conference from the current club owners before the due diligence process can be completed.

They must also satisfy the football authorities that all football and non-football creditors have been paid. To fulfil this criteria they are currently in the process of agreeing a Sale and Purchase Agreement (SPA) with the owners.

Members were told that the trust had budgeted for a loss of £730,000, but that they were already taking measures to minimize the financial losses including the Red or Dead campaign from which they hope to raise £300,000 in community shares and donations. Share prices would stand at a maximum amount of £20k and a minimum of £200.

The WST has also recently invited fans and business owners to sponsor players at a rate of £240 for both home and away games.

WST Chief Executive Richard Green said that the club had bridges to build with the local business community in order to succeed.

Negotiations are still ongoing with Glyndwr University over a lease for the 2012-13 season, but is it believed that the university will give the club a rent free period to begin with in order to aid its stability.

Trust officials would not be drawn on when the takeover will be fully completed, but provisions have been made to ensure that there will be no repeat of last month when players were paid late and refused to play several pre-season games.

With the club currently unbeaten and sat near the top of the Blue Square Premier division, fans will now hope that Wrexham FC can go forward successfully under their stewardship.

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