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Trust submits Offer Document to Administrator

The Trust has formulated its own Rescue Package and a comprehensive document has been submitted to JJC

The Trust has submitted an offer document for the purchase of the business and certain assets of York City Football Club.

Trust representative Steve Beck explained the latest step by the Trust to help secure a future for professional football in York:

The Trust has submitted a serious offer that, if accepted, will provide returns to the creditors and enable the Club to survive. The Trusts solution provides a financially sustainable way forward that not only benefits creditors, but is also of benefit to the players, the management, the staff and the supporters.


Beck added:
This is an offer on behalf of the supporters that enables a community asset to be saved


The document sets out the principal terms of the offer, which the Trust is prepared to make for the purchase of the business of the Club as a going concern, consisting of certain assets. At this stage, details of the Trusts offer are not being released. Discussions will be held with the Administrators and other parties to progress the offer towards completion as soon as possible.

Growing confidence in the community-led rescue package is, in part, founded on the substantial funds already raised or pledged for the Trust. Only the Trust was prepared to put in the necessary 92,000 lifeline to enable the Club to survive until at least 15th February. In addition to that money, the Trust has now received over 200,000 of donations and pledges towards the target. The Trust is seeking to raise up to 500,000 between now and the end of June 2003 to help ensure the Countys only Football League club survives. The Trust appeals to the people and businesses of York to further support this community bid.


Submission of the Trusts offer means the Administrator now appears to have two offer documents on the table. The second being that of the Batchelor-fronted bid. It is understood that a third party, with whom Trust representatives have held several discussions in recent weeks, remains keen to help provide a solution to save the Club.

The reality of the situation is that unless someone puts their offer on the table, has it accepted and then sees it through, York City Football Club could disappear altogether within the next few weeks. The Trust has now submitted its offer and is prepared to see it through. The Trust will continue to work to help provide a positive future for the citys football club. In the absence of a better offer, that future could very soon be under the Trusts control.

The Trust has established a special Save City Account, whereby individuals and businesses who make significant donations can do so in the knowledge that their money will only be used if the Trust becomes the legal owner of the business and assets of the Club. Donations can be made by cash/cheque/postal order or standing order payable to Munby & Scott -Save City Account (Royal Bank of Scotland Sort Code 16-34-80; Account number 10144317) send to the Trust, c/o Bootham Crescent, York.

 
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