Progress towards understanding Wrexham FCs financial position
The main news this week is that we believe that there may be a delay in the completion of the due diligence report, which could make it more difficult for us to formulate a robust bid.
Due diligence: We have made some progress to understanding the current financial position of Wrexham FC, although progress has been slower than anticipated. We have a meeting planned with our professional advisors BDO LLP next week following which we hope to be in a position to update our members on the timescales for completion of the due diligence.
Discussions with key stakeholders
Representatives of the Trust and Supporters Direct this week met with a senior officer of the RFL at their headquarters in Leeds.
Rugby Football League: We are pleased to report that we had a very positive and constructive meeting with the RFL where we outlined our proposal for a community-owned football club and Racecourse Ground. We would like to thank Tom Hall at Supporters Direct for setting up this key meeting and the RFL for their time. We hope to meet again in the near future and to continue to develop this relationship further.
Other key stakeholders: Members will be aware that a key focus for the Board this year has been to actively engage with any key stakeholder which has an influence or stake in the future of Wrexham FC. To date we have held positive meetings with Wrexham Council, Glyndwr University, the Welsh Sports Minister and local AMs and MPs. We hope to set up a formal meeting with the FAW in the near future.
Update on discussions with potential partners
The main news this week is that the Ward Consortium has ruled itself out of making a bid or investment in Wrexham FC, for the time being at least. No further progress has made with either Stephanie Booth or Steve Cleeve and we are still some way away from being able to place fully costed proposals in front of our members.
Stephanie Booth: Since our last briefing, we have made no further progress towards a joint bid with Stephanie Booth. We are currently awaiting satisfactory completion of a NDA and further details of her revised proposal as we reported in the last briefing. Further to speculation on Red Passion, we can confirm that the Board of the WST did not ¢‚¬Å“leak¢‚¬ an email between Stephanie Booth and Geoff Moss and is currently in the process of taking legal advice in regard of this matter.
Steve Cleeve: We agreed to a request to meet Mr Cleeve this Monday April 11th, which he subsequently cancelled due to other commitments. We have since preliminarily agreed to meet next Thursday, April 14th at a mutually convenient location, diary permitting. We regret that this initial meeting has been slightly delayed but hope to be in a position to update members of our discussion following the Special General Meeting on Monday, April 18th.
Ashley Ward: A representative of the Trust met with the Ward Consortium to listen to their proposals this week. We were informed that the Consortium no longer plans to invest in Wrexham FC at this moment in time, but that they would be prepared to advise the Trust in its bid. The Board will discuss the Consortiums offer at its Board meeting on Monday and report back to members in next weeks briefing.
Fundraising and Events
The WST held a Soul Night last Friday, April 1st at the Centenary Club at the Racecourse Ground, which raised over £200 for our funds.
WST Soul Night: This successful event, attended by almost 100 guests, stared the voice of soul Kate Bell and was supported by Denzils Soul Disco. Kate was an excellent act and everybody enjoyed their evening. Many thanks to Kate and Denzil for helping to make this night successful and helping raise £235 for the Trust. Many thanks also to all the people who attended the evening; we will be looking to put other events on in the future.
WST Merchandise: We have a wide range of exclusive WST merchandise available, which we sell outside the Turf on match days. Items that we have for sale include the Our Club, Our Ground range of car stickers (£1), Red Hoodies (£25), T-shirts (£19), mugs (£5) and car kits (£5), Wrexham FC T-shirts (£10), The Turf mugs (£5), Oh Fluffy Sheep Mugs (£5) and WST baseball hats (£8).
Buckley Reds Football Forecast: The Buckley & District Reds is running its usual Football Forecast for the weekend of 28th April to 1st May. However, they have agreed that any profit from this competition will this time be donated to the Supporters Trust. Please feel free to download the form from http://tinyurl.com/5r5mhly and print some off for family and friends to enter. It costs just £1 a go and can be returned, without a stamp, to 'Freepost WST'. Many thanks to the Buckley Reds for this generous gesture.
Supporters Direct News
Supporters Direct has launched a new fans page on Facebook and is inviting early bird registration for its Fans Weekend in July.
Facebook: The new Fans Page on Facebook will replace Supporters Direct current Group Page. Just visit the new page at http://s.coop/126z and click like to access more articles, videos, photos and debates than ever before. This page also aims to be more interactive, so its an opportunity to share thoughts and experiences with members of other supporters trusts. In particular, there are regular updates about the Football Governance Inquiry.
Fans Weekend: 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 http://s.coop/126y for more details.