Terras Trust Statement
As a Trust Board we are unanimous that the statements released by the Chairman of the football club have been, at best, less than informative and, at worst, misleading and give the fans of WFC little or no information about the agreement that has been offered to the shareholders for acceptance. There is widespread speculation that Morgan Sindall Investments Ltd are the other unnamed organization involved but this along with other key facts have not been confirmed. We strongly urge the Chairman of the club to give a detailed account of the agreement so that our members and all the fans can decide if, as reported, this truly is in the best interests of WFC. A public forum involving the Chairman and a representative from the Wessex Delivery Partnership would also give fans an opportunity to air their views and get questions that they have answered.
Our view as a board is that the agreement does little or nothing to secure the short or medium term survival of the club. We are aware that the club is currently losing at least £30,000 per month and we have yet to receive any assurances that this loss can be stopped in the coming weeks and months
without drastic action being taken to reduce the losses within the club, both on and off the field. The personal cash injection that has been reportedly delivered by the Chairman may keep the wolves from the door today but how long will that last before the debts start to mount uncontrollably, if they haven't already?
The chairman of WFC has yesterday publically stated that his position is untenable. The Trust board would now strongly urge that he does what is really in the best interests of Weymouth Football Club and ensures that in the very near future the club is being run by people who have the financial ability and the short, medium and long term interests of the club at heart.
Their complaints centre on Mr Curtis plans for the club that entail selling off all of the clubs assets in return for a promise to provide a new stadium for the club. There remains a great deal of suspicion around the professed plans of Mr Curtis.
In the Dorset Echo former club director David Higson delivered this testimonial to Mr Curtis ;
When Malcolm Curtis first came I had my doubts about him and to me the man has asset stripped it. And I cannot see it surviving until the time when a new stadium is developed.
The Dorset Club is reportedly losing around £30,000 a month and in an attempt to reduce the monthly outgoings striker Michael Malcolm recently joined Crawley. Fellow striker Stuart Beavon is also up for sale with Bournemouth recently passing up the chance to sign him for an alleged £500k.
Today Mr Curtis acknowledged the fans concerns and indicated that he was ready to leave.
Once you get to a point when so many people are against you then you have got to go, its the same with a politician.
Weymouth FC are in debt and losing money, their assets have been or are about to be sold. Their team is being shipped out and the loyal supporters have no faith in the clubs owners.
The Terras Trust have a seat on the board of the club but do not own enough equity to effect real change at the club. Mr Curtis owns 84% of the shares.
We wish their fans well in their struggle to save their club.