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Thursday, May 01, 2014

HUST Looks For Sustainable Future For Bulls


The Hereford United Supporters Trust (HUST) are looking for a 'sustainable future for the club' even if their bid to take over isn't accepted by the board of directors.

Their offer was sent to the board on Tuesday.

"We had a response from David Keyte on Tuesday evening," HUST vice-chairman Martin Watson told BBC Hereford and Worcester.

"He's keen to meet us, to talk to us, so hopefully that will happen in the early part of next week.

"With the pledges we have so far we should have enough to cover the immediate demands which is £220K.

"That's to get us past the Conference AGM.

"There's roughly an £80K tax bill which will end up in court as another winding up petition, that's part of the £220K.

"The remainder is outstanding wages and footballing debts which are due by the Conference AGM on June 6th.

"The deal we have got on the table is that effectively the club is for sale for £1 because it needs so much money in debt repayments. It's not just the £220K, the club has also said there is £300K needed to service debts next year. That's outstanding debts.

"There are a lot of debts out there. The rent and rates on the stadium haven't been paid, the main phone lines haven't been paid so they've been cut off. The club is using a single phone line out of one of the back offices."

Howard Bentham then asked: "Is that an offer you've made to the club that will buy it for £1 and clear your debts or have the club said you can have it for £1 if you clear the debts?"

"That's our proposal and that's the indication of what they will accept. But obviously there's a lot of discussion to go on from there yet.

"(Director) Bob Pritchard spoke to Tuesday evening's fundraising meeting and said that David Keyte was talking to investors yesterday and today. Obviously they are in advanced negotiations compared to us.

"It's possible they could do a deal before we even get to the table.

"We've got no problem with that. We want a football club next season. 

"We are in a position of last ditch bid. We're the last offer on the table so if the other offers come in and fail we are the back up plan.

"We are fans. We don't necessarily want to be running the club but if we want to have a club we're the last option and we will.

"We're in a position of crisis.

"The offer that would keep the club running and looks towards its long term sustainability is the best one.

"If it's somebody else we have no objection to that but we're looking towards a sustainable future for the club and I hope that if another bidder is successful they will be doing the same."