2008 - Firesale starts in earnest

Monday, 03 November 08, 12:28 PM · Comments (0)

Hot of the press is the news that Weymouth's top scorer Michael Malcolm has left the club on a loan deal to Crawley Town. This is with a view to a permanent deal in January.

TerrasBlog would like to thank Malcolm for his contribution and goals this season and wish him all the best (despite the fact that he is joining the odious Steve Evans).

With the likely departure of star player Stuart Beavon to AFC Bournemouth in the offing we now have only Chris McPhee as a goal threat. Points will soon be difficult to come by.

This has of course come on the back of the statement that appears to confirm that the club no longer owns anything at all now. The end?

Not far off is it?

The club have released the following...

3rd November 2008 I have today written to all shareholders of Weymouth Football Club confirming that the Board has decided to recommend further important steps towards delivering a new income generating football stadium. Specifically the club is seeking to pass a resolution to enter into an option agreement with Wessex Delivery Partnership LLP. The aim of this move is to ultimately benefit the club by partnering with an organisation that has both the appropriate skills, and the significant resources, required to drive forward the delivery of the proposed new stadium. It is our belief that a new stadium is key to providing the club with greater autonomy and a sustainable solution to its financial position.

The proposed resolution will allow Wessex Delivery Partnership LLP an option to buy the existing stadium, and ultimately develop the whole of the Wessex site, once the proposed new facility is ready to be constructed. This will add greater security and more importantly impetus to the prospective stadium development plans, a vital part of the Board's strategy to bring long-term financial sustainability to the club. Until the completion of the proposed new stadium, the Terras would maintain their interest in the Wessex Stadium and play their fixtures at the existing ground. Only in exchange for the provision of the new stadium, built to Football League 'green book' standards, will Wessex Delivery Partnership LLP be able to seek the transition of the club from the existing stadium site to its new home. As part of the agreement, Wessex Delivery Partnership LLP will immediately acquire the land surrounding the Wessex Stadium from Wessex Park Limited. Existing access agreements to the stadium will be unaffected.

This is a vital step towards delivering a new, sustainable, sports stadium. I will continue to be personally involved with the development partnership to ensure its successful implementation and to protect the best interests of the club. In the meantime, the resolution protects the rights of the club to play in either the existing stadium or a new stadium of a superior standard. Furthermore, Wessex Park Limited will continue to hold its existing shareholding in Weymouth Football Club Ltd.

In the short-term, I will be contributing further personal funds to assist with the financial stabilisation of the club.

This statement came out before news of the Malcolm deal...

The supporters trust finally showed its teeth by issuing a quick condemnation of what the Chairman is looking to do.

Trust Board Disappointed by New Deal

Published 03/11/2008

The Terras Trust Board are extremely disappointed that the deal announced today does not meet the best short or medium term interests of Weymouth Football Club and its supporters.

The Trust will be taking urgent advice and action towards seeking the immediate well being of the club, which is at present losing a very considerable amount of money despite assurances given previously that WFC would be run within budget. We anticipate that reductions in spending will have to be made to sustain the football club, and we appeal to all Terras supporters past and present to support their club now at the turnstiles where it really matters to help secure our immediate future as a Blue Square Premier football club.

The Terras Trust Board

Its all too much to take isnt ?

The Chairman talks of a good news story whilst the best players are shipped out. If the rumours from yesterdays media are true, the football club element got 1.1M GBP for an 11M piece of land... and people are calling for unity and calm?

There are of course still Curtis believers and non-believers, just as there was for Bush (ok not Bush), Harrison, Ridley, Bennett...

The truth is that this football club is dying on its arse. Regardless of whether there has been malicious intent from the current owner or not. It is dying.

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