Wrexham Evening Leader

Dear Alex

30/11/04

Mark GutermanTHIS morning former Wrexham FC chairman Mark Guterman has sent an open letter to Alex Hamilton:

Dear Alex,

With time fast running out for Wrexham I believe that the time has come to put the record straight.

I read with a mixture of amusement, disbelief and disgust your comments to Peter Higgs in the 'exclusive' interview which you gave to the Mail on Sunday.

I do not propose to comment upon the reasons for the awful state of the finances of the club. The club was in financial difficulty when we obtained a controlling interest, which is why we were able to buy that controlling interest for the sum of £50,000.

Since then you say you have invested substantial sums, of the order of £600,000 in the club. However, of that £600,000, the sum of £300,000 was paid to obtain control of the freehold of the land which the club occupies. That freehold interest was transferred to a company owned solely by you, and a lease granted to the club.

In July this year, notice was served by you on the club, terminating the club's right to occupy The Racecourse Ground with effect from July 2005.

Your explanation of why the club finds itself on the brink of liquidation, even if correct (which it is not), is now irrelevant. The plain facts of the matter are, that you have embarked on a course of action designed to bring an end to football at The Racecourse ground.

You have acquired the freehold of The Racecourse Ground; terminated the lease by which the club occupies the ground; you have refused to invest any further money to avoid liquidation; for a period of almost two months, you have steadfastly refused to engage in any discussion with me for the sale of your interest. You resigned your position as chairman before any conflict could arise between your duties to the club, and your own personal financial interests.

The latest excuse for your refusal to contemplate a sale of your interest is apparently the threats that have been made by supporters of the club against you and your family.

I deplore such conduct, if true, and agree with you that it is representative of a misguided tiny minority of individuals. However, please don't expect anyone to accept that this is the reason that you are not prepared to sell.

The reason you are not prepared to sell, is because you don't want to. You believe that the club's property interests are worth more to you without a football club at The Racecourse Ground.

Today you refer to an offer 'on the table' of £10m, on the basis that the club vacates The Racecourse Ground, and that an offer at this level will enable a nice new small purpose built stadium to be built somewhere else.

Get real Alex! This smokescreen is kidding nobody. We are talking about here and now, and administration on Friday, not five years in the future when Wrexham AFC will long since have ceased to exist.

On Thursday last week my solicitors withdrew the offer that was made to you on November 2 to purchase your shares in the club. The offer was withdrawn with great reluctance, because I formed the view that as you had failed to respond to my offer you were not interested in selling. Even if you were interested and considering responding, it appeared there was insufficient time to reach a deal before the club was placed into administration or liquidation.

I will now state for the record, that the consortium that I represent is still prepared to buy your shares at a sum which will provide you with a profit on your investment of over £1.4m, provided a deal can be reached before the club is placed into administration or liquidation.

As you know, the terms of the offer involve a substantial investment to restore the club's finances, keep it out of administration or liquidation, and safeguard its future at The Racecourse Ground and I have satisfied independent third parties that sufficient funds are available.

I do not expect you to respond. I do wish the people of Wrexham to know why they will shortly no longer have a football club.

Yours Sincerely

MARK GUTERMAN