Beaten Trust says they got fans the best deal they could (From This Is Local London)

Beaten Trust says they got fans the best deal they could

11:00am Friday 10th July 2009 in

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DEFEATED Supporters Trust member Ian Mather has told his membership that they have secured the best deal they could get under new owner Steve Hayes and has urged everyone to now join together make the best of it The Supporters Trust were against Hayes’ takeover from the outset, but agreed to recommend it to their membership after negotiating a string of legal guarantees designed to protect the club’s future.

They said they felt bullied into it and stressed that they were only agreeing to it because Hayes would withdraw the concessions he had offered them if they didn’t.

Hayes made it clear that it was his final offer and, with no alternatives put forward, Blues’ directors said it was accept it or go into administration and start the season on minus ten points.

Mather, who resigned his position as one of two Trust representatives on the club’s board, said they had negotiated the best deal they could.

He said: “It was a very tough decision that the Trust board had to make and we were never going to please everyone.

“The Trust was set up to protect the enshrined articles of the club’s constitution and it soon became clear that if we didn’t vote for it that there was every chance all of our enshrined rights would have disappeared.

“Had Monday’s results been a no to change, the threat of insolvency and administration was a very real threat. If that had been allowed to happen, those articles and the protection would, in any case, have been wiped away.

“Under the circumstances, the Trust had a duty to members, shareholders and all supporters of the club to negotiate the best alternative security and protection that we could to replace the articles being removed.”

The Trust persuaded Hayes to give them the first option on shares when he comes to sell them and also won an undertaking that he would give them £1.5m to start a new club should he taken them into liquidation.

They also secured an agreement that Adams Park will be the club’s home until Wanderers secure the right to play at an alternative stadium within five miles of Adams Park.

Mather added: “I know that some members and supporters feel that the Trust board got it wrong, but the Trust is also in place to represent the views and wants of the majority. The votes cast on Monday evening by Trust members and by shareholders in favour of the restructuring proposals, clearly showed that a very large majority with voting rights backed the proposals.”

The Trust will also retain two seats on the club’s board – although the two members they put forward will need to be approved by the Blues board. They will have regular access to the club’s accounts.

Mather said: “For many shareholders, Trust members and supporters, the last few weeks have been a period of major turmoil and unrest when we should have all be looking ahead to the excitement of the new season in League One. Now that the club restructuring and ownership issues have been settled, we can all now look forward.

“The decision has been made and the club now needs to move onwards together.”