The WST boardcan confirm that we have made a written proposal to the directors of Wrexham Football Club to invest £300k in return for a 15% equity stake. This was done in early March. We still await a formal response to our proposal.
We have now received an alternative proposal from co-owner Geoff Moss where he suggests that the Trust should donate our funds to the football club and offers to matchany donation with an equivalent investment.
Our initial response is that we feel it is highly unlikely that our members would support such a move unless the Trust receives a shareholding in return.
It has taken us 6 years and a lot of hard work to raise this money, which has been ring fenced by Trust members specifically to buy shares in the club.
Throughout the past 2 seasons we have continued to provide financial and material support to the club - examples being through purchasing a mini bus for the youth teams, running the Junior Dragons club and selling club merchandise and tickets on matchdays.
The Trust has already put over £100,000 into the football club over recent years.
The offer of a board position to Club and Trust President Arfon Griffiths is a positive step forward as the Club's Board would benefit from his experience, but this should not be made conditional on a donation of funds from the Trust.
The Trusts board will meet shortly to discuss and respond formally to Mr Moss's proposal.