OTR Ltd - Trust Vote

[andrew p long]

Membership Vote: OTR

Members are set to be asked to vote on a strategic capital expenditure: the Club gaining full control of OTR (Exeter) Limited, the owners of

www.weownexetercityfc.co.uk

 

[malcolms]

I read the proposal, fully expecting at some stage, to see a vote of thanks to the people (some are no longer with us) who provided the finance to buy the St James Centre, with no real benefit to themselves, other than a wish to see the future of the club protected. I would like to think that, at some stage, this commitment will be acknowledged in full. Before anyone jumps to the wrong conclusion, I was not involved in the purchase.

 

[BigBanker]

I read the proposal, fully expecting at some stage, to see a vote of thanks to the people (some are no longer with us) who provided the finance to buy the St James Centre, with no real benefit to themselves, other than a wish to see the future of the club protected. Before anyone jumps to any conclusions, I was not one of them.

A very good shout Malcolm.

Can someone more close to the structure explain why this purchase is a good idea? What's the benefit? is it just to assume full control, or is there a financial benefit in the long term?

 

[Trapdoor]

A very good shout Malcolm.

Can someone more close to the structure explain why this purchase is a good idea? What's the benefit? is it just to assume full control, or is there a financial benefit in the long term?

The trust is the group with the most interest in the preservation of the club and facilities. At the time the trust was not in a position to do anything, now it is. The OTR was just a stop gap means of protecting the clubs infrastructure thanks to some altruistic individuals. The trust owning the infrastructure makes sense for long term holding since it can manage the financial side of the property to benefit the club and fans.

I dont believe their is any explicit long term financial benefit, but from a strategic perspective it aligns to the goals of the OTR, the trust and the club. It seems like a logical step forward to me since anything ensuring the stability of the club and infrastructure in the long term is a good idea. Generally relying on private individuals to prop up the club is undesirable, common trust ownership of assets is much more appealing for long term stability.

 

[Boyo]

I dont believe their is any explicit long term financial benefit,

"It will further safeguard our Club whilst potentially saving considerable sums of money with respect to the additional costs incurred by OTR (Exeter) Limited."

 

[Trapdoor]

"It will further safeguard our Club whilst potentially saving considerable sums of money with respect to the additional costs incurred by OTR (Exeter) Limited."

I read that as potentially offering some upside but with no guarantee of financial benefit. I wouldn't expect this to be particularly profitable, but equally it wont be financially negative for the trust.

 

[BigBanker]

The trust is the group with the most interest in the preservation of the club and facilities. At the time the trust was not in a position to do anything, now it is. The OTR was just a stop gap means of protecting the clubs infrastructure thanks to some altruistic individuals. The trust owning the infrastructure makes sense for long term holding since it can manage the financial side of the property to benefit the club and fans.

I dont believe their is any explicit long term financial benefit, but from a strategic perspective it aligns to the goals of the OTR, the trust and the club. It seems like a logical step forward to me since anything ensuring the stability of the club and infrastructure in the long term is a good idea. Generally relying on private individuals to prop up the club is undesirable, common trust ownership of assets is much more appealing for long term stability.

Ace, thanks TD.

 

[Pete Martin (CTID)]

I see this as a no-brainer. It makes total sense. End of.

 

[Northants Grecian]

Slightly surprised by the timing - would have expected this to come to an agm. That being said it does seem to make financial sense but the original email states an attachment will be shared but nothing in either email.

 

[bimmerman]

Absolute no brainer, further protects our club going forwards