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Bootham Crescent Loan Note Issue 2004
Bootham Crescent Loan Note Issue 2004

Supporting City

The Trusts Bootham Crescent Loan Notes Issue 2004 provides supporters and friends of York City with an historic opportunity to contribute towards Bootham Crescent being reunited with York City Football Club.

After raising 1/2 million in 2003 to Save City, the Trust is now seeking to raise some additional funds to help towards gaining ownership of Bootham Crescent for the benefit of York City and the community.

The formal Loan Note Instrument sets out the details of the scheme such as the loan notes are non-interest bearing, are non-transferable and will only become repayable/redeemable in very limited circumstances.  It is highlighted that whatever monies people or businesses choose to contribute is akin to a donation to the Trust for the specified purpose.  The Loan Note Instrument and application forms are available via or direct from the Club.

Loan Notes will be issued in denominations of 100.  So the minimum contribution is 100, then in multiples of 100 upwards.  All contributors will receive a souvenir Bootham Crescent Loan Note certificate and will be specially acknowledged in the match programme next season.  Supporters or Businesses contributing 1,000 or more will gain Friend of York City status providing them with the following initial benefits

l                    Souvenir Bootham Crescent Loan Note certificate;

l                    Name printed in a Roll of Honour in each match programme during the 2004/05 season;

l                    A day at the Club, including guided tour of Bootham Crescent, lunch with the Chairman and see the players train; and

l                    Invitation to Noteholder (plus guest) to attend a match at Bootham Crescent as guests of the directors of the Club during the 2004/05 season.

The aggregate amount, of approximately 2.1 million, payable by the Club to complete the arrangements to gain ownership of Bootham Crescent is greater than the 2 million loan from the Football Stadia Improvement Fund.  That is why the Trust is seeking to raise new funds to provide money to the Club to meet this shortfall.  The initial target date is 23 July.

The Trust recognises that amongst Citys fans there are people who have already dug deep for Citys cause over the past couple of years.  This provides an opportunity for people to contribute for the specific purpose of helping the Trust/Club gain ownership of Bootham Crescent.

Note: The loan note scheme being used is as recommended by the Trusts legal advisers and similar schemes have been used by other trusts.  Notwithstanding the practical issues that prevent share ownership of Bootham Crescent being offered, the necessary legal and administrative burden are additional reasons why the Trust or the Club will not be making a public offer of shares.


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Copy of the Loan Note Instrument (the legal doc)

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