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Funding Gap in the Finances of Wrexham FC

wstlogosmallIn view of the release of information, by Geoff Moss, into the public domain concerning potential options for Wrexham FC and its assets, the Board of the Wrexham Supporters Trust need to clarify the current position.

Following the development of a detailed financial forecast, the WST has been locked in talks to acquire the Club and its assets as a going concern. However, the Club's debts, high cost base and reduced income present an incredibly challenging hurdle to a successful transfer of ownership. Whilst it has been reported that Colliers Park could be gifted as part of an arrangement to take over the club, unfortunately the scale of the financial problem facing the club for the full season ahead remains significant.

The latest proposal put forward by the Wrexham Supporters Trust would secure the historic debt of Wrexham FC to Wrexham Village and meets the shortfall in operational commitments for the football season 2011/12 which is close to £1million. However Wrexham FC has an immediate cashflow vacuum, this is the current stumbling block in negotiations.

Furthermore, talks with Glyndwr are still at an early stage and the Trust has no certainty over the terms of a potential lease, so the full cash-flow risk in this option is uncertain.

We will continue to talk to all parties with the best interests of Wrexham FC at heart to find a solution to ensure the continuation of Blue Square Premier football in the town.

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