Crunch talks continue to decide Wrexham FC’s future

Reporter:

Rebecca Cole

BIDDERS vying for ownership of Wrexham Football Club have continued crunch talks in a bid to cement its future.

Following the release of a detailed breakdown of Wrexham Supporters’ Trust’s proposed partnership with fans and private investors, chairman Richard Owen confirmed meetings had taken place between the trust and the club’s interested parties.

He said: “We’ve been in regular contact with (joint owner) Geoff Moss since his return from holiday and have informed him that we are actively working towards submitting a bid in which the trust has majority control and which asset locks the Racecourse and Colliers Park for the benefit of the local community.

“We have also been in contact with all three bidders – Stephanie Booth, Stephen Cleeve and Colin Poole – to outline our proposal for majority control and to asset lock the Racecourse and Colliers Park.

“We are planning to ask all potential bidders whether they would be prepared to match our investment pound for pound as opposed to funding a leveraged buy-out through loans.

“We now have indicative offers of support for a proposed share offer totalling over £200,000 in addition to the £400,000 we have raised to date and believe that a majority shareholding is within our grasp.”

The trust also revealed that Mr Cleeve and Mr Poole had made provisional offers of a minority sharehold and a single seat on the board but said Mrs Booth had advised the trust to progress with its own separate bid.

Mr Owen added: “Mr Cleeve has made a provisional offer for a 15 per cent share in return of a seat on the board but he has made no firm proposal yet so the trust has asked for written details before any decisions are made.”

Mr Cleeve was unavailable for comment but a spokesman for Stephanie Booth said: “This is a very complex situation but we are all working in the best interests of the club and we hope to make an announcement soon to clarify matters.”

The trust hopes to acquire a majority shareholding in the legal entity which owns Wrexham FC, the Racecourse and Colliers Park and will hold a public presentation evening at Glyndwr University on Tuesday, May 17, where members will launch a
bid and outline proposals in full.

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