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Friday, 01 April 2011 15:26

Members Update # 5

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Progress towards understanding Wrexham FCs financial position

We are making good progress to understanding the current financial position of Wrexham FC and have met with Geoff Moss and Ian Roberts and kicked-off the due diligence exercise since our last update.

Meeting with Geoff Moss and Ian Roberts: We met with the owners of Wrexham Village to attempt to get a better understanding of the current position in relation to the sale of Wrexham FC and its current financial position. Wrexham FC has subsequently commented on its current financial position, which we anticipate will be confirmed by our due diligence exercise. Both parties felt that this was a positive meeting and have agreed to have further discussions about the future of the club.

Due diligence: Our professional advisors, BDO LLP, have started the due diligence process and expect to report back the week beginning April 11th. As is normal in these circumstances, the owners of Wrexham FC have requested that WST sign a non-disclosure agreement (NDA), which we have agreed to. We will discuss with the owners what information we can share with our members but trust that you understand their need for commercial confidentiality in this matter.

Update on discussions with potential partners

In order to ensure that negotiations with any partner take place in a professional manner we have asked all potential partners to sign NDAs. Again, this is typical business practice during acquisitions and we believe that potential partners will recognise this as good practice. We will only place firm proposals before our members, which have firm evidence to back them up. To date we have received a number of outline proposals but have not yet received fully costed plans, which would enable our members to make an informed decision about the future of Wrexham Football Club.

Stephanie Booth: Further to our previous briefing, we have written to Stephanie to confirm that we are happy to continue discussions, subject to a mutual NDA being signed and being provided with further details of her revised proposal, which at present is at a high level. We remain in dialogue and have asked for heads of terms and details of her deal structure and will update members as soon as we have something firm to present to them.

Steve Cleeve: We have received a number of emails from Mr Cleeve, culminating recently in a high-level proposal to pursue a joint bid. Again, we believe that we need to understand Mr Cleeves proposal in more detail and have requested a meeting when he is next in the country. Further to feedback at our last members meeting, we did suggest holding a Skype call while Mr Cleeve was out of the country but this was not possible for various reasons. Mr Cleeve has since proposed a date to meet while he is in the UK, which we are in the process of finalising.

Ashley Ward: We have been approached by the Ward consortium for a further meeting, which could take place this week although no date has been agreed at the time of going to press. As agreed at our members meeting we will continue to explore all avenues and potential partners, keeping an open mind as far as is possible in the circumstances.

Special General Meeting

The Society Board has called a Special General Meeting of Wrexham Supporters Trust to take place at the Wrexham Lager Club on Monday, 18th April 2011, commencing at 7:30pm.

Trust members will be receiving their packs for the meeting shortly that will contain the two resolutions proposed by the Board along with voting instructions.

In summary, the Board is requiring member's approval of a proposed framework to measure any bids that require WST funding for the purchase of Wrexham FC, The Racecourse Ground and/or Colliers Park.

In the second resolution, the Board is asking member's to reduce the number of days it takes to call future special general meetings to 7 days from 14 days to speed up any decision making process. This change is only on a temporary basis up to the 2011 AGM, when the notice period will revert back to the present 14 days.

Full details will also be available from our website at 9 AM on Saturday, 2nd April 2011, including the option for online voting if you are unable to attend the meeting. You will require your membership number to vote online.

Fundraising & Events

Fundraising: The WST Fundraising Group is currently hard at work exploring ways of raising more money for the Trust. In addition to the Soul Night, which is featured below we are currently considering purchasing some specially designed scarfs ahead of a potential appearance in the play-offs. Whilst we dont want to be counting our chickens just yet, we do need to plan ahead and believe this could be a real money spinner for us. Let us know your thoughts.

We would also like to extend our thanks to Jamie Davies who has raised £251 from the sale of wrist bands and DVDs. We really appreciate members efforts in supporting our fundraising activities and would like to extend an invite to anyone wishing to join our fundraising group. Please contact Pete Jones at This email address is being protected from spambots. You need JavaScript enabled to view it." target="_blank" ' + path + '\'' + prefix + ':' + addy27632 + '\'>'+addy_text27632+'<\/a>'; //--> for further information.

WST soul night: If youve received this briefing via our InTouch email system, then you still have time to attend our Soul Night at the Centenary Club this Friday 1st April 8pm till late starring Denzils Soul Disco, with special guest the Voice of Soul Kate Bell. If you dont yet have tickets, then you can come along on the night; tickets are just £5 payable at the door.

Supporters Direct Conference

The Society Board has called a Special General Meeting of Wrexham Supporters Trust to take place at the Wrexham Lager Club on Monday, 18th April 2011, commencing at 7:30pm.

We continue to receive significant support and advice from Supporters Direct and would like to publicly extend our thanks for the considerable time they are dedicating to WST at present. As a thank you we would like to help them to make a big success of their summer conference in Chester in July. Please make every effort to attend and take advantage of the discounted rates available to WST members.

The SD Fans' Weekend which includes the SD Annual Conference and SD Cup will take place in Chester , on Friday 15th and Saturday 16th July 2011. The Conference will be held at The Queen Hotel on the Friday and the SD Cup will form part of a Fans' Day held on the Saturday at the Exacta Stadium, home of Chester FC. Tickets are £37 for members of Supporters Trusts and £42 for non-member.

See for more details
John Mills