Due diligence kicked-off this week
Financial and legal due diligence kicked-off this week as we aim to develop a full understanding of the clubs financial and legal position.
Meeting with representatives of Wrexham Village: On Tuesday, 31st May representatives of the Wrexham Supporters Trust, met with representatives of Wrexham Village to begin the process of financial and legal due diligence with support from BDO and Cobbetts. Due to the complexity of the deal, progress has been slower than expected but we intend to complete the process to ensure that we have as full a financial and legal picture as possible.
ESCROW account: Cobbetts LLP opened our escrow account this week to enable supporters to deposit money in a secure account in advance of the proposed community share scheme. We started to contact people by telephone this week with a view to testing the level of support for this initiative and were overwhelmed by the response from fans. We hope to be in a position to provide further details in the coming week.
Please bear with us while we continue with due diligence to get a full understanding of the financial and contractual position of Wrexham FC.
Fundraising, Merchandise, Membership and Events
The main news this week is that the Trust held a public meeting to kick-start the Red Army and set up a stall in Wrexham Town Centre to sell merchandise.
Look out for further details of a proposed sponsored walk up Snowdon, which has been penciled in for Sunday, 17th July. Everyone making the walk will be asked to wear Wrexham tops in support of this Red Army fundraiser. To make it easy for everyone to attend, free transport will be available for anyone who has raised over £20 in sponsorship. Further details and sponsorship forms will be made available as soon as possible. Thanks again to everyone who attended and provided ideas.
Merchandise: It might be the close season, but the work to raise money for the Trust doesnt stop. Lindsay Jones and friends from Red Passion, including Bobby Shinton, Pedro, Terry Tactics, Statto, Hugo Montenegro and Paul M were outside the old M&S store on Hope Street œ with permission from the Council - on Saturday selling merchandise and signing up supporters to the Trust.
The Trust members raised a total of £266.99, including £205.81 from sales of Trust merchandise and £61.18 from signing up four new members. Many thanks to everyone who took the time to stop by and chat. If you didnt get a chance to pop into town on Saturday then the sales team will be there again next Saturday manning an extra table to sell more merchandise.
Yma o Hyd: The WST version of Yma o Hyd (Still here), which is set to a memorable collage of photographs of Wrexham players from yesteryear is now available on You Tube for viewing. Please feel free to forward this link onto your friends on Facebook so that we spread the word that were still here and still working towards completing a deal to aqcuire Wrexham FC, the Racecourse and Colliers Park. We would like to take this opportunity to give our heartfelt thanks to Dafydd Iwan for his permission to use this beautiful Welsh folk song.
Membership: After a big increase last week, membership increased slightly to 1126 this week. Please help us to continue to increase our membership base by telling friends and family about our plans. Feel free to forward this briefing to them or direct them to our website for further details of our work. And if they need an incentive, tell them that Chester FCs Trust has over 2500 members!
As there is no football to watch until August, why not volunteer to help out the Red Army or man a stall on Saturday in Wrexham Town Centre?
Supporters Direct News
There are just a few weeks to go until the SD Fans Weekend in Chester where well get the opportunity to meet with Trusts from other club as well as hopefully some of our own members.
Facebook: Supporters Directs new Fans Page on Facebook has replaced Supporters Direct current Group Page. Just visit the new page here and click like to access more articles, videos, photos and debates than ever before. This page also aims to be more interactive, so its an opportunity to share thoughts and experiences with members of other supporters trusts. In particular, there are regular updates about the Football Governance Inquiry and news from Supporters Trusts across England and Wales.
Fans Weekend: The SD Fans' Weekend which includes the SD Annual Conference and SD Cup will take place in Chester, on Friday 15th and Saturday 16th July 2011. The Conference will be held at The Queen Hotel on the Friday and the SD Cup will form part of a Fans' Day held on the Saturday at the Exacta Stadium, home of Chester FC. Tickets are £37 for members of Supporters Trusts and £42 for non-member. Members of the Wrexham Supporters Trust Board will be attending so why not come along for a chat and an update. Click here for further details.
Football Governance Inquiry: Supporters Direct has launched two reports to coincide with the conclusion of the government's inquiry into football governance which is due to report very soon - Developing Public Policy to Encourage Community Ownership in Football and Developing Football Regulation to Encourage Greater Supporter Involvement and Community Ownership. The two reports can be downloaded from Supporters Directs website.
Its been a quiet week in terms of engaging politicians this week, although members may have noticed Wrexham FC getting mentioned on Question Time.
Question Time: Elfyn Llwyd, Plaid Cymru MP for Dwyfor and Merionnydd gave the Racecourse Ground a plug on this weeks Question Time, which was filmed from the William Aston Hall at Glyndwr University for the first time. In a discussion about football governance within FIFA, Mr Llwyd brought the Racecourse to the attention of the audience as the oldest [surviving] football stadium in the UK (and indeed in the world). Thanks for the plug Elfyn!
Conservative Party Conference: WST Chair, Richard Owen has been invited to present at a fringe event of the Conservative Party Conference entitled ¢‚¬Å“Football and the Big Society¢‚¬, which is being held at Manchester Grammar School on October 3rd and 4th. Richard has accepted the invitation to appear alongside David Gill (CEO of Manchester United), Mark Howell (Community Officer at Chester FC), Jesse Norma (University of Buckingham and author of the Big Society) and Jim White (Sports Journalist at the Daily Telegraph). Further details will be provided closer to the time.
Your questions and suggestions
Membership: We would like to welcome all new members to the Trust and ask you to help us spread the word by inviting friends and family to sign up to help us grow our membership even further. Please feel free to forward this email onto your friends or ask them to sign up here. Thank you to existing members for your ongoing support and welcome to our new members who are reading these briefings for the first time.
And finally, a footnote¢‚¬¦We incorrectly stated last week that the Manics Street Preachers song From Despair to Where was taken from their album Gold for the Soul. We were of course referring to the seminal album Gold against the Soul, so congratulations to the intrepid Henry J for highlighting our, err, deliberate mistake on Red Passion. Keep up the good work Henry!