Trust Matters

  • Please bear with us on the new site integration and fixing any known bugs over the coming days. If you can not log in please try resetting your password and check your spam box. If you have tried these steps and are still struggling email [email protected] with your username/registered email address
  • Log in now to remove adverts - no adverts at all to registered members!
Thanks Guy.
Bit morbid but I hope the contract will cover the eventuality of his death. That was mentioned but not answered. If we don't go ahead there is no way, with annual losses increasing, that WWFC could afford to pay pack the money used to pay off the debts. At least he isn't thinking of building a great big stadium our fans can rattle around in and is more focussed on filling the one we have. What he is suggesting can be done to attract more fans has been obvious for a long time so if he can achieve that it will be some success. Just imagine if we could have 9,500 fans every home game. He will need some time to turn it round but he seems to have the team to do it if anyone can

So he has paid out more than expected and the deal isn't as good as he hoped for. Doesn't sound like a good start for him. Let's hope we don't get to a situation where continuation is in doubt because for one, it will rub off on the staff and players and two, we can't afford to pay back what he has put in

Something I thought I saw but haven't had time to go back and look; did it say somewhere that WWFC would be paying rent for their home games? Who to? What with? Maybe I misread it

I suspect this will go through and, if so, I hope it turns out to be a decision that will be looked back on with satisfaction
 
Guywanderer said:
The only rent I heard was about the training ground maybe they are looking to buy it
I too need to watch it again when I get the chance being retired I just don't have the time
Click to expand...
Ah yes, I caught something about the possibility of buying so it probably was rent for the training ground. Out of interest, how big is the training ground?
 
Ron said:
Ah yes, I caught something about the possibility of buying so it probably was rent for the training ground. Out of interest, how big is the training ground?
Click to expand...
Looked on google maps. I reckon about 10 acres and I reckon Adams Park is about 7 acres (inc car park). Also next to the training ground there is a 3 acre farm on one side and what looks like a 5 acre field on the other. Just saying <whistle>
 
Voting is now underway
The headline details of the deal are:

- In return for 75% of the voting and non-voting shares of WWFC, Rob Couhig will invest £2.2 million to settle all outstanding debts and support working capital needs. This will mean that ALL charges currently held against Adams Park will be lifted.

- Adams Park will remain 100% owned by the Trust, free of charges.

- Rob will make available an additional £1 million for working capital (NOT secured on the ground).

- The Club will enter into a new 15-year lease with FALL to use Adams Park and will continue to be responsible for maintaining the Stadium.

- WWFC will pay £150k annual rent for the use of Adams Park, with a 90% holiday for the first 5 years to support ground improvements.

- The Trust will have 2 members on a 6-person board, allowing influence and involvement in the decision-making processes.

- Rob Couhig has written to me, as Chairman of the Trust, confirming that he has no present intention of selling his interest in the Club in the foreseeable future but that if he does decide to do so, his intention would be to discuss the possibility of the sale with the Trust directors on the board of the football club and discuss with them the various options that may exist.

A full summary of the deal can be downloaded via the 'click here' button towards the top of the email, and a copy of the full confidential agreement and associated documents will be available for inspection by Legacy Members at Adams Park from 12 noon to 7pm every weekday from Wednesday 16th October until 29th October 2019, and in the Caledonian Suite before the game against Sunderland.
Voting on the proposal will commence at 9pm on Tuesday 15th October 2019 and continue until midnight on the 29th October 2019. The result will be announced as soon as possible after that date.
The vote is being administered by Civica Election Services (CES) previously known as the Electoral Reform Services (ERS) to ensure impartiality.
If you have a registered email address, you will receive an email explaining how to vote. If you do not receive that email, please check your spam folder, to see if it is there, if not, please email [email protected]. Members without an email address will receive a postal vote, which will contain a postage paid envelope.
I’m sure you will be thinking of the implications of a no vote. The simple answer is we will be thrown back into financial uncertainty and instability. Whilst the existing £500,000 loan from Feliciana (Rob Couhig) itself will not immediately fall due, the Club has considerable other liabilities, as members are aware, many of which are due for payment or will be very soon. The Club’s ability to meet those will, without doubt, be called into question.
Your Trust board have invested a lot of effort into talking to a number of interested parties and finding the right partner.
Based on the evidence of the last 3 months of Rob’s involvement in the Club, the financial support he has already given and his understanding of the ethos of our Club and the role of the Trust within it, your Trust board unanimously recommend you vote in favour of the proposition.
 
I am afraid it is no longer possible to compete at this level, with gates that usually only just go over the 50% capcity. There was a report about Morecombe in the mail this week that said their budget was smaller than a lot of National League sides, & that's where we would be heading. 2 or 3 millon is huge to a club like us, even in league 1 it would be a drop in the ocean to a few clubs at our level. At championship level a lot of clubs would'nt even bother for an investment of that size.
 
Anybody else watched the two videos on the WWFC site, looks like if the members don't go ahead we are heading back to non-league
 
Presumably someone is keeping check on what % of voters have voted and which way. We should have some indication of how it is going. They know how many voters there are so it shouldn't be long before they know if there are enough votes either way to make the remaining votes irrelevant
 
If 31.25 % of those have voted against that would be enough to clobber it here and now. Conversely, if 93.75% of those have voted for that would be enough to clinch it

How many Legacy voters are there?
 
893 Legacy Members so we need 670 votes for it to go through

715 have already voted, so if we have 45 or less voted against it's already gone through
They know the situation; surely they aren't going to wait until all 893 votes are in
 
You must log in or register to reply here.
Top Bottom
Back