News from trusts

NUST - Yes we can/Trust rejects Llambias 'smoke-filled rooms' discussions

After months of discussions with interested parties, Newcastle United Supporters Trust (NUST) has launched the 'Yes We Can' Campaign which aims to raise funds to lead a fans buy out at St James' Park. The Trust will be revealing partners over the coming days but has in place a buy out structure lead by local firms and reknowned names in the financial world. The Trust is mailing out to over 40,000 supporters to ask them if and how they want to buy into the campaign to lead a city-wide bid to buy back the club.

There are a number of ways supporters can buy into the model which has been dubbed by the financial community as the 'Barcelona on the Tyne' which would see a 'democratisation' of the club to ensure that the current state of the club would not be repeated. The idea is based on fans investing in the club through a number of financial opportunities which will be held by a local solicitors in an ESCOW account to demostrate to Ashley that the fans have 'proof of funds'. Supporters will be asked to pledge 10% of their investment into this account which would be returned if the bid was unsuccessful.

It is believed that this is the first stage of a 6 week campaign including advertisements, the opening of an advice shop in central Newcastle and the unveiling of high profile backers.

Mark Jensen, Spokesperson for the Trust on the campaign said

'Its clear that we have no knight in shining armour to end the charade at St James' Park so we must look at how we can do this ourselves. The club is a fantastic investment if run properly and we aim to attract the type of investors who will seek to bring back the values of integrity and honesty to the club. We've been in discussions with serious people in the city and beyond and they have thrown down the gauntlet to supporters to lead the charge. We've been obsessed by protest but this is the ulimate protest. If people want more info they can visit www.nust.org.uk and find out more. There are a range of ways to invest but fans can be sure that it will be on a 1 investor 1 vote basis with fans electing 6 fans representatives through the Trust and a President who will bring in a professional team accountable to the fans ulimately. There are serious investors who want to back this idea because they can see the potential in the club. This is an investment which is not only ruled by the heart but by the head also'.

The Trust will be launching an exciting Business Plan in the near future which will set out further how the financial model will benefit fans and investors. Over the next 6 weeks the Trust has a total to reach but they are refusing to reveal how much because 'this is clearly a commercial issue' and 'we want to negotiate with Mr Ashley on our basis not his'.

In a further twist, it's emerged that the Trust have rejected a proposed meeting with the Club's Managing Direct, Derek Llambias. In a statement issued by the Trust, Neil Mitchell, Chair of the Trust told the Guardian, "Deals in smoke-filled rooms will not be part of our negotiations. The idea of the campaign is to bring trust and integrity back to the club and to reflect the values of the city as a whole."

You can follow their campaign via twitter and facebook

« back | ^ top