Trust statement
It has been a tumultuous few weeks for everyone involved with our club. We now know that there is a period of exclusivity in place with regards a potential sale of the club, ending on Saturday 23rd March at midnight.
Reflecting on reports issued by the Trust having met two groups interested in buying the club, perhaps we could have done better in giving a clearer picture of just what is happening.
From the very start of the process, Murray and myself have been in regular contact with Simon at all hours of the day and night, 7 days per week. Other directors get involved when on site or in Teams calls.
On a personal note, I do not think we could have been more involved as a Trust, and we do have to respect that confidentiality plays a huge part in commercial transactions such as a business sale.
I have run any communication past Simon before they have been published and not once has he asked me to change anything. I have reported as best I can on what has been discussed. What I have not witnessed in any discussion is a desire to prioritise repayment of director loans, loans that have allowed us to continue to watch our club whilst we try to conclude a deal to sell.
I have kept Simon informed of my contact with Justin and Dave from TFC LLC.
Murray, as both a main board and Trust board Director, has been heavily involved and has not been excluded from any communications. This shows a healthy respect on show by the board to the Trust representative, and I hope this allays some fears being expressed of deals being done.
We are all frustrated. All of us, including the board. These are extremely stressful times and being legally bound from disclosing more information does not help any of us, except in getting a deal done.
What having an exclusivity period in place means is this – an offer has been made to buy the club, subject to due diligence satisfying a group of investors. We do not currently know their names, but we do have a first-class reference from MVV Maastricht for their investors, so there is a track record of sorts to refer to.
It does no one any favours to use social media platforms to present such a discordant front which prospective buyers can easily access. I would ask that the essential dignity of people working on a solution is respected and that we all look forward to a positive outcome.
Up the Dale.