Saturday, April 16, 2011

Fans urged to bail out Wrexham FC

Stephanie BoothStephanie Booth wants the supporters trust to use its money to pay the tax bill
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A businesswoman leading a bid to buy Wrexham football club has urged fans to cover a £200,000 tax demand.

The club has been issued with a winding-up order by Her Majesty's Revenue and Customs.

Stephanie Booth said she was weeks away from making an offer but in the short term the supporters trust should use money it has raised to pay the bill.

The trust said it could not "give the money away" without the approval of its members.

Both Ms Booth and the trust are currently going through the club's accounts with a view to taking it over.

In a statement Ms Booth said as a PLC her bid was prevented by corporate governance rules from investing any money until a deal was completed.

She added the only way of saving the club was for the supporters' trust to invest part of the £378,000 it had raised.

Former player Mickey Thomas
Mickey Thomas

It's more disappointment. At the moment the football side of it is good - they are in a play-off situation and they can get promotion. This will be a bombshell for [club manager] Dean Saunders. I just hope everything can get sorted out. For many years now the club has not been healthy - they have not been able to get the off field problems right.

"This money was raised from hundreds of fans specifically to invest in WFC and now is the time for them to do so," she said.

"Failure to do so now will almost certainly result in WFC being wound up."

But trust chairman Richard Owen told BBC Radio Wales it was also going through the club's books to see what money was needed and whether it would make a bid.

"At the end of the day its going to be the [Trust] members who decide what we are going to do going forward," he added.

"We are similar to Stephanie in that we are a properly constituted organisation.

"We can't just give money without proper due diligence and the approval of our members."

A statement on the club's website says it owes "just under £200,000" and that the owners were "doing everything within their powers to secure the future of the club".

“"If the club were able to access a funding pot to clear that debt, then the club's future could be secured at a stroke”

Statement Wrexham FC

The statement added: "That HMRC should take this action at all is a source of great disappointment and frustration, when offers to honour our commitment over a period to the Revenue have been rejected out of hand.

"The club 'holds its hands up' in full acceptance that this situation has been allowed to escalate, and realises that football clubs in general understand that there now exists something of a zero tolerance relationship between them and HMRC.

It called for fans to show their "valued support" for this season's two fixtures, starting with Saturday's home game against Kettering in the Blue Square Bet Premier.

"If the club were able to access a funding pot to clear that debt, then the club's future could be secured at a stroke," said the statement.

Businessman Stephen Cleeve has outlined his interest on taking over the club to fans on the Red Passion website.

This article is from the BBC News website. � British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.

Source: http://www.bbc.co.uk/go/rss/int/news/-/news/uk-wales-north-east-wales-13104097

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