Former player’s rival bid to buy Reds turned down

Reporter:

Garth ApThomas

A RIVAL bid by a group of business people to buy Wrexham FC has failed.

Club director Geoff Moss described the offer as “substantial” but said it was rejected because terms had already been agreed with Wrexham Supporters Trust.

The attempt to buy the club was made by a consortium led by former Wrexham player Alan Bermingham from Colwyn Bay.

In a statement Mr Moss said: “We have agreed terms with the Trust at long last and it would not be ethical at this stage to withdraw from that position

“Alan Bermingham and backers have made a substantial last minute bid to take over the club.

“They would want to keep Jon Harris in place as they recognise his experience, which I agree with.”

But he added: “I am sure the fans will galvanise the local community and make a success of running the club.”

Mr Bermingham expressed disappointment the proposals his consortium had put forward were not successful.

He said the plans included making Glyndwr University an offer for The Racecourse stadium and Colliers Park in two years – and did not include housing development at either site.

Mr Bermingham, who believes Wrexham FC needs an annual budget of more than £1 million if it is to compete for promotion back to the Football League, would not disclose details of the consortium’s make-up.

But he said the cash would have been made available “to secure the club without cutting wages, staff or structure”.

He added: “As a former player I still have feelings for the club and was emotional at the ground on Saturday.

“I have every respect for the fans and hoped we could be as one.”

Richard Green, chief executive for Wrexham Supporters Trust, said: “I can understand Mr Bermingham’s interest in Wrexham FC.

“I am not specifically aware of his proposals and he has not chosen to disclose any details publicly of his offer or the financing supporting his bid.”

Mr Green said he would be happy to discuss any details with Mr Bermingham.

Meanwhile, details of the WST’s plan for the Reds have been sent out to members.

The Trust is due to hold a special general meeting next Wednesday, August 24, over the planned takeover.

For the 2011/12 season it says after overheads and wages of £1.48 million are deducted WAFC is forecast to make an operating loss of £729,000.

In terms of financing the trust says: “The WST proposes to invest £350,000 of its funds immediately and anticipates being able to raise a further £250,000 by March 2012 from donations and/or the launch of a community share scheme.

“This estimate is based on the total indications of support to a future community share scheme made by supporters at the end of last season.”

In its conclusions the trust says income will need to be raised and costs cut significantly.

“Difficult decisions will need to be made to reduce overheads, which may not be agreeable to all supporters but which will be critical to the survival and future success of the football club.

“WAFC will need the financial help of all supporters to be successful on and off the pitch - we all have a part to play in securing the future.

“Even if you are not actively involved in supporters’ groups you can still help to secure the football of WAFC by investing in the community share scheme and by purchasing food, drinks and merchandise on match days.”

See full story in the Leader

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