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CLUB STATEMENT: Chairman speaks on potential investment

2 August 2016

Club Statement from the Tuesday night Forum

At tonight’s Radio Cumbria Fans’ Forum Club Chairman Andrew Jenkins talked to the audience about potential investment in the Club. 

“There has been a lot said and written about this already and the up to date position is this.

“Things have dragged on and it is not what any of us wanted to happen. I decided some weeks ago that this couldn’t just go on and on and we need to sort it, once and for all. 

“At the CUFC 1921 Ltd Board meeting yesterday and I gave all the directors full details of the Potential Overseas Investor and his UK advisor for the first time.   

“John [Nixon] and I went through all the detail and discussions and events and showed the letters and emails. This included telling them the name of the Potential Overseas Investor and going through his background. We had agreed with him previously that this shouldn’t be done, but I felt it was now right to give the 1921 Board these details. 

“John and I have been asking the Investor to progress his interest constantly, without getting anything definite back, and it’s been really frustrating for us all. I know it has been the same for the supporters. 

“CUOSC was represented by Jim Mitchell, and he received the same information for the first time as well.

“We then had a long discussion about our options and we agreed what we would do. Firstly we all agreed that it was not in the interests of the Club to do things which could put large potential investors off investing, if at all possible. However, having tried to be patient for a very long time, under lots of personal pressure, things must be brought to a conclusion, one way or another, as we could not carry on as it is any longer.  

“We discussed whether or not we should name him now, thus drawing a line under it. We have decided we should make one final attempt to make progress and keep the door open - for just a very short period longer.

“I promised to name this person in the end - and I will do that. 

“We agreed to formally write to him for a final time. That letter has been drafted and will be issued tomorrow. We will request that the things we need to happen are done before our first home league game.

“Just today his UK advisor contacted us and said the interest was still live, but we need more than assurances like this. We need to see real progress. 

“It is fair to say that after what has happened over the last year, and even in the last month, we have to be realistic about whether anything will come of his interest, but we have done all we can to give us the best chance of doing a deal – and doing what’s best for the Club – which is all I want to do.”

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