Consortium bidding for Wrexham

[krux]

Originally Posted by ABd

How would they make a huge profit from the ground? Glyndwr wouldn’t sell cheaply (if at all).

Glyndwr would sell. they don't want the ground and have ambitious capital developments planned.

[Rhys's Daddy]

Any investment is welcome and if we are honest needed.

I work for an employee owned company and a stakeholder, but not a decision maker. The board run the club but report back every 6 months. At this time all major decisions are presented with facts to support this.

[Ipswich Red]

Originally Posted by ABd

How would they make a huge profit from the ground? Glyndwr wouldn’t sell cheaply (if at all).

I think the uni would accept a bid that got them their investment back rather than a profit. I think a bit of an albatross to them.

[onelegged harry]

Originally Posted by RED2309

I'd advise any bidders for the club to read RP first to get the measure of the abuse and nonsense they'd be letting themselves in for.

The leader of the consortium would obviously have to be on an ego trip as he couldn't just be doing it for the benefit of the club.

Have you thought that the consortium could consist of Wrexham Fans who can
see the way the club is being driven and want to step in and save it.

[RED2309]

Originally Posted by onelegged harry

Have you thought that the consortium could consist of Wrexham Fans who can
see the way the club is being driven and want to step in and save it.

Like Moss Dickens & Roberts did?

[eosceiriog]

Originally Posted by onelegged harry

Have you thought that the consortium could consist of Wrexham Fans who can
see the way the club is being driven and want to step in and save it.

A lot cannot see anything other than the status quo. We need to be open minded and fully explore other options, not dismissing them out of hand.

No one is advocating as far as I know, just dumping the club in the hands of some unscrupulous person or organisation.

[Number6]

Originally Posted by Ipswich Red

I think the uni would accept a bid that got them their investment back rather than a profit. I think a bit of an albatross to them.

Yes, Prof. Scott wanted the ground, also for the club to prosper. When he left and the new Dean took over, she regarded the Racecourse simply as an asset, and wanted nothing to do with the football club. They would offload the ground, in the same way as Marstons did when someone offered them a cash settlement on the unexpired lease, but we have first refusal. They are also happy that we now cover all the expenditure and all the ancilliary employees (groundsmen, stewards, shop/bar staff, turnstiles etc) are off their payroll. £2m would probably buy it, which is why it is imperative that any 'consortium' is coming in for football reasons, and that the required due diligence is done. In this case, a bond of £50k HAS to be placed with the club, before talks can commence, and a detailed business plan with proof of assets has to be presented (this should prevent a leveraged buy-out, where a person uses the clubs own assets to buy the club, shouldering a debt onto the Football Club). If these things are not forthcoming, it's not a serious bid.

[pagl]

Originally Posted by eosceiriog

A lot cannot see anything other than the status quo. We need to be open minded and fully explore other options, not dismissing them out of hand.

No one is advocating as far as I know, just dumping the club in the hands of some unscrupulous person or organisation.

having the club run by 1 set of people that are secretive and power crazy versus another who actually have money.

For me the time is right to sell it and move on.

[podders]

Originally Posted by Number6

In this case, a bond of £50k HAS to be placed with the club, before talks can commence, and a detailed business plan with proof of assets has to be presented (this should prevent a leveraged buy-out, where a person uses the clubs own assets to buy the club, shouldering a debt onto the Football Club). If these things are not forthcoming, it's not a serious bid.

Its not a bond of £50k, its a deposit of £5k which would be used by the Trust board to cover expenses related to deciding if the bid is genuine (so no club funds are wasted investigating spurious bids).