York City needs help---FAST!

JoBeck · Feb 21, 2003

The following is copied from the York City Supporters Trust website (http://www.saveyork.co.uk):

Saturday 22nd February 2003 could be the last match ever for York City Football Club. After the match against Bury, unless further funding is forthcoming, the Administrator could bring to an end the trading of North Yorkshire's only Football League Club.

It is understood that at least £60,000 is required to fund the forecast shortfall between income and costs for the Club over the period from 23rd February to 15th March. Having already applied £92,000 of its funds to enable the Club to survive from 19th January to 15th February, the Trust is now unable to fund the shortfall over the next few weeks. At this stage, there is no alternative source of funding in place.

Trust representative Steve Beck appealed:

"The Club is literally on the brink of extinction. It needs someone to step forward to financially rescue this community asset from destruction. Whilst the Trust continues to seek sources of finance, there is no guarantee that the money will be found."

Having being founded in 1922, the Club could cease to exist on 22nd February.

The Trust's Offer to acquire the business and assets of the Club remains in place, but it is likely to need a few more weeks for completion of the agreement with the Administrator, arrangement of the CVA with the creditors and the agreement of the players, the Professional Footballers' Association and the football authorities. Now that the Trust's Offer is the only one 'on the table', the Administrator has started to help progress the Trust's Offer towards completion. However, that could prove irrelevant, if the ongoing trading of the Club cannot be funded over the next few weeks.

Cash and pledges raised by the Trust in recent weeks have been specifically earmarked for investment in the Trust's rescue package. That means the Trust's monies cannot be used to fund the trading shortfall in the few weeks before that rescue package is agreed and put in place. In the absence of a solution by the time of Saturday's match, the Trust will make a final appeal to the supporters of the Club to try and raise the emergency funding of £60,000.

In addition to the emergency requirement of at least £60,000 by 22nd February, the Trust's Offer now needs people to turn their pledges into cash and new cash donations. Assuming that the Trust's Offer is completed by 15th March, the Trust requires at least £150,000 of additional cash donations by that date.

Under the proposed structure for the deal, that money will be invested by the Trust in a new company ("Newco"). Newco will then acquire the business and certain assets of the existing Club. Some of the money will be used as consideration to acquire the business and assets (and, in effect, be used to settle monies due to certain creditors of the old company) and some of the money will be used to fund the ongoing operations of the Club (which will be in Newco).

Going forward, after completion of the deal, the implementation of a detailed financial plan (as submitted to the Administrator) will see the Club trading around a breakeven position to the end of this season and for the following season. The improved financial management of the Club will be brought about by a combination of additional sources of income/funding and a reduction in costs. The Club will have to be operated in a way such that it 'balances the books.'

Subject to agreement by the football authorities, the new company will enable the team to continue the push towards promotion this season. The Club will continue to play at Bootham Crescent for the current season. Beyond 30 June 2003, when the Club's current lease with landlords BCH expires, the Trust will continue to seek to play its home games at Bootham Crescent at least until an alternative better facility is in place. Trust representatives continue to work positively towards ensuring York City continues to have a decent home ground. However, the Trust's Offer is not dependent on finalising a deal on the home ground of York City beyond 30 June 2003. That is a matter that can be resolved later. It is a matter that would be irrelevant if the Club was to disappear. Hence, the Trust is concentrating on saving the Club from liquidation.

The Trust's solution offers a massive benefit. Not only is there a substantial financial return to the creditors, but also to the players, staff and football creditors going forward. And, of course, the Trust's solution saves the Club for the supporters/community.

The Trust's Offer is one of substance and the Trust is prepared to see it through to try and save the Club. The Trust continues to appeal to the people and businesses of York to financially back the community-bid. The Trust has established a special 'Save City Account', whereby individuals and businesses who make significant donations can do so in the knowledge that their money will only be used if the Trust becomes the legal owner of the business and assets of the Club.

Donations can be made by cash/cheque/postal order or standing order - payable to 'Munby & Scott -Save City Account' (Royal Bank of Scotland - Sort Code 16-34-80; Account number
10144317) - send to the Trust, c/o Bootham Crescent, York. [Moderator's note: You can also make a donation by credit card via YCST's website: http://www.saveyork.co.uk]
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Canadian_Supporter · Feb 22, 2003

"YORK, England, Feb 22 (Reuters) - York City's 1-1 home draw with Bury on Saturday may have been the last in their 81-year history with no sign of a new backer for the financially stricken English third division club. "

http://sports.yahoo.com/sow/news?slug=reu-york&prov=reuters&type=lgns

JoBeck · Feb 22, 2003

I feel bad and I just hope they get a last-minute deal... Their fans look like they've already raised £40,000 in the last few days (let's hope it's that high... it looks like they raised £15,000 at the game today and have gotten about £20,000 in donations) and they are talking with a few wealthy potential investors about a deal to save the club.

Their fans have done so much to keep that club alive. The club has stayed alive even this long because of the countless hours the fans have taken out of their own lives to help their club and because of the generous amounts of money they have taken out of their own wallets to bankroll the club. If it weren't for York City's fans, their team would not even be alive much less fighting for promotion.

Best wishes to York City, their fans and York City Supporters Trust, and here's hoping that they can get the money by tomorrow. If they lose, all fans of English soccer lose.

Wolves_67 · Feb 22, 2003

They've done so well so far in raising the money needed. I would think with them being so close to having what's needed for now, someone will step up if not several people.
Here's their page at the Football Grounds site.
http://dspace.dial.pipex.com/town/park/yfh45/york.htm

Fusion City · Mar 6, 2003

This is where the big clubs should hang their heads in shame!! There is so much money in football but they wont help the smaller clubs. One of our local clubs,Bury,are still in an uncertain position,fans of all clubs in the area rallied round to turn up at matches & show some support,but it is smalll change. Leeds or the Sheffield clubs could organise a friendly to boost the coffers,but what is really needed is some sort of levy to a fund to help the position of clubs like York.My own team,Man City were playing them in the league only 4 seasons ago & now are ploughing £Ms into new players What is needed is for everyone to get together & agree that it isn't acceptable to let this happen & contribute a % into a "fighting fund" to aid these clubs.It is unfortunate that nowadays fans can follow any team they choose & see most of the games on TV,There has got to be more promotion of local clubs to win back real fans & re-introduce the local pride of supporting your team no matter what division they are in,not easy in this day & age!

panicfc · Mar 7, 2003

The EPL should set up a fund to assist the lower divisions. Of course it would help if the lower division clubs had some decent management, which it appears YCFC didn't have for a period of time.

Karma Killer · Mar 14, 2003

They've since been saved and are chasing promotion.

GMan Eric · Mar 14, 2003

All the same, I sent in 20 quid to help out.

JoBeck · Mar 29, 2003

Thanks to everybody who helped!

York City Supporters Trust will take over the club! Go to www.saveyork.co.uk for more info

patrickm · May 4, 2003

i've been to york. it is a great city. i could live there. i was theren 2 years ago. what a great city. good luck to the club.

panicfc · May 7, 2003

Does anyone have a link to the new badge?

mackem_ftm · May 10, 2003

Originally posted by patrickm
i've been to york. it is a great city. i could live there. i was theren 2 years ago. what a great city. good luck to the club.
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i live here. it is indeed a great city. i feel like a bit of a muppet cos i've been here since october and haven't been to see them once.