Sent at 5-15pm today
Open Letter to All BWFCST Members
by BWFCST
Dear
Trust Member,
An Update in Troubled
Times
As we find our beloved BWFC within 36 hours of yet another High
Court winding-up hearing, we would like to update members on the actions that
have been taken by the Trust to help in the battle for the club’s very
existence.
The Supporters’ Trust has been working very hard behind the scenes
to try and assist in attempting to find a way forwards and achieve some
co-operation and progress in this worrying and distressing situation. We have
contacted/been in dialogue/had meetings with all the parties involved in this ongoing
crisis and with their representatives. We are also in regular dialogue with the
Council and the University.
We have attempted, with varying levels of success, to engage with
all major stakeholders who can influence the future of BWFC. We will continue
to do so as situations unfold, but the lack of clarity displayed over recent weeks
is not assisting dialogue. Whilst there are high levels of confidentiality
involved in such discussions, the Trust will always attempt to influence
matters whenever possible with the sole intention of maintaining the very
existence of a football club for the greater good of the Bolton community.
We have also written to and met with our local MPs on a number of
occasions, which ultimately prompted their recent cross-party statement and
interventions with the EFL. We have also written on a regular basis and had
meetings with the EFL and to other governing bodies in football to express our
concerns and to ascertain what actions they were taking to resolve matters. Unfortunately,
contact with the EFL has resulted in nothing of any substance to date. Indeed,
we received a response from Mr Harvey on 14 February ’19 in which he stated
that “the Club continues to manage its
own financial affairs to ensure they have a long-term future and, following
recent discussions, the EFL remain satisfied the Club has the source and
sufficiency of funds to meet its obligations as a member of the League to at
least the end of the season.” Quite
what responsibility the EFL wish to accept for the current position our Club
finds itself in should, perhaps, be a question to be addressed to Mr Harvey and
his colleagues. We would, additionally, request the EFL to fully address the
requirements of their very own Owners’ and Directors’ Test when assessing the
credentials of any new owner.
In addition, we have made representations to Damian Collins, Chair
of the Digital, Culture, Media and Sport Select Committee, who is a particular
champion of football governance issues. With regards to governance issues, the
Trust board is in regular contact with Supporters Direct and the Football
Supporters Federation.
One of the major safeguards, secured in 2017, was the registration
of the Stadium as an Asset of Community Value (ACV). If this status hadn’t
been secured, the Stadium could well have been sold under the radar by Mr
Anderson without such a transaction being brought to the public attention.
Indeed, as most will be aware, the awarding of ACV status was opposed by the
club, contrary to many other such football stadia applications which are
generally encouraged by club owners. We are currently assessing the status of
the ACV should an insolvency event take place.
Indeed, without the protection of an ACV on the Stadium, BWFC
could have ended up in a similar situation to Coventry City and having to rent
their stadium from a less than benevolent landlord.
Bearing in mind the current ongoing saga of the ownership of the
club, the implications when considering the status of remaining club assets are
surely critical to its very existence.
Finally, in an attempt to prepare for any possible insolvency
events, the Trust has set up a CIC (Community Interest Company) which is a
legal entity to be utilised as a vehicle for future fundraising. It is hoped
that this will not be required to be used in an emergency scenario, but in an
attempt to achieve a degree of financial involvement with any new and more
accommodating future owners.
We hope that the above assists members in gaining a better
perspective on the actions taken by the BWFCST in our attempts to make sure we
all continue to have a team to support. We will continue with our attempts to
keep members as informed as possible whilst having to respect the
confidentiality of all parties. This is a very complex legal and financial
situation and we continue to take professional advice in both these areas whilst
working to try and move towards the best outcome for the future of BWFC.
Yours sincerely
The BWFCST Board
BWFCST | April 2, 2019 at 5:15 pm | URL:
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