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Old 15th September 2020, 12.05:21   #11-0 (permalink)
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Default Re: How Much Do We Sell The Club For?

Zero pounds zero pence.
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Old 15th September 2020, 12.14:45   #12-0 (permalink)
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Default Re: How Much Do We Sell The Club For?

Any funds the WST have in the bank should be used to the benefit of the football club when the takeover is agreed. I think legally the new owners have to pay something... so £1. Any funds the WST have is OUR money so it should be used for the purpose of benefitting the club going forwards. If the club folded then thats when the cash could be distributed to local charities but in a take over scenario then most members would surely wish to see it for the primary purpose ... the benefit of Wrexham FC.
Old 15th September 2020, 12.16:18   #13-0 (permalink)
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Default Re: How Much Do We Sell The Club For?

Quote:
Originally Posted by TopCornerFergie View Post
I'm open to be corrected on this - but it's my understanding that any monies received from a sale of the Club would be distributed amongst local charities.

There would be no financial benefactor, and the idea of putting it in a rainy day fund would be very dubious.

What's it going to be used for? To cover the bills of the new owners when they run out of cash?

Sell it for £1 and let them use as much money as possible turning us into a professional outfit.
Money in the WST bank would only go to charities if the trust folded by a members vote.
The recent EGM questionnaire revealed that the members wanted the trust to continue in the event of a sale.
In the event that new owners fail in their objectives the trust need to retain funds in order to provide a safety net.
Too easy for a new owner to run up debts and do a runner if things aren't going right.
I'm interested in this bid but need to be convinced of the integrity of the proposed new owners and the source of the funding. Would also like too see a condition of sale that no debt is carried forward.
Old 15th September 2020, 12.17:32   #14-0 (permalink)
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Quote:
Originally Posted by Wreck Sam View Post
Any funds the WST have in the bank should be used to the benefit of the football club when the takeover is agreed. I think legally the new owners have to pay something... so £1. Any funds the WST have is OUR money so it should be used for the purpose of benefitting the club going forwards. If the club folded then thats when the cash could be distributed to local charities but in a take over scenario then most members would surely wish to see it for the primary purpose ... the benefit of Wrexham FC.
That was the Moss argument. He wanted all the WST money pumped into the Youth System. Some top WST people trusted him but thank goodness the majority were sceptical .
Old 15th September 2020, 12.19:42   #15-0 (permalink)
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Default Re: How Much Do We Sell The Club For?

It’s critical in respect of timing though. Should the deal not go ahead for whatever reason, (early days yet) I can only see the divide between fans widening even more, which would all likely spiral us into admin before we know it. Less fans being engaged, bitterness etc.
Old 15th September 2020, 12.19:59   #16-0 (permalink)
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Quote:
Originally Posted by Cartman View Post
If the owners were contractually obliged to make a quick 2m injection into the club then yes, probably.
They would be making a net £1.5m cash injection then you could argue in that scenario. Thats fine if thats the deal but lets treat our club with respect.
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Old 15th September 2020, 12.20:47   #17-0 (permalink)
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Default Re: How Much Do We Sell The Club For?

Quote:
Originally Posted by Inside Left View Post
You are a former mover and shaker who was always tried to keep the WST finances healthy should there be a need . From which the foundations was formed to take over from Moss and Co.

Do you think,------ The Trust should keep a healthy fund in its balances should it cloud over again and the club is hit by another rainy day ? Perhaps funded by any future sale.

( I am very cautious about a proposed take over group who at this stage do not wish to be known to the membership ).
They are known to the board who were voted for by the membership, as discussions are not even beyond stage 1 given they need a vote and an NDA is required from the club then no reason for nanything to be disclosed yet. If they were not the "right" types then you can bet it would have been leaked by now to ensure a no vote. The fact the board are speaking in what would seem to be positive tones should be more than enough for now.

No doubt when a meaningful vote comes around they will be disclosed as will more detail on an offer.

As for costs - let the WST continue, no need to wind up in my eyes, and keep the current funds and any membership fees. Members can then decide as time goes by how things stand and whether it needs to be kept for a rainy day or not.
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Old 15th September 2020, 12.22:54   #18-0 (permalink)
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Default Re: How Much Do We Sell The Club For?

Quote:
Originally Posted by TopCornerFergie View Post
I'm open to be corrected on this - but it's my understanding that any monies received from a sale of the Club would be distributed amongst local charities.

There would be no financial benefactor, and the idea of putting it in a rainy day fund would be very dubious.

What's it going to be used for? To cover the bills of the new owners when they run out of cash?

Sell it for £1 and let them use as much money as possible turning us into a professional outfit.
Couldn’t the WST negotiate a buy back option then keep the money for that or buy an investment with some sort of income to fund the Trust in the future for different ventures. (Maybe buying a local Sunday league club)
Unless the new owners are legally obligated to invest £2M into the club then what is the point of selling it as it would be basically giving the club away.
Old 15th September 2020, 12.24:12   #19-0 (permalink)
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Default Re: How Much Do We Sell The Club For?

It seems the WST will retain ownership of the leasehold through WST Assets Ltd.
Therefore WST will not be wound down.

Will WST just charge an annual rent and make the new club owners responsible for stadium maintenance, or do we need to charge more and maintain the ground ourselves? The answer to that will have an effect of the value of the club.
Old 15th September 2020, 12.40:29   #20-0 (permalink)
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Quote:
Originally Posted by 3pmsaturday View Post
I’m assuming many wish to give the club away? Trust should get valuation and be unable to sell for less than that.

Keep money in trust (literally) if/when it’s required. Only put money in for a corresponding shareholding.

It’s the point ultimately of the trust to safeguard the clubs future.
I do not want to give the club away. Voted no for that reason. If the deal had been 500k for the shares plus we knew who we were dealing with would have voted yes. Loads on here, and obviously some on the WST, are pushovers when it comes to serious bargaining.

Feel like we are being led up the garden path by both parties. Deepened my mistrust of those currently on the board.
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