A BRIGHT YELLOW FUTURE
CONSORTIUM BID UPDATE
Dear member
Following today’s announcement that the club has gone into administration we are writing to update you on TUST’s position.
We can confirm that a final offer was submitted yesterday (Thursday) by our consortium, which includes a group of six businessmen (all long-standing supporters). We have been advised by the Administrator’s legal representative to expect a decision early next week.
We are pleased that the Club has said in its statement earlier today that it has received at least one offer from other parties – we think this is excellent and encouraging news for the Club and TUFC supporters given that there are options to choose from. We have full confidence in the Administrator to make the best choice for the sustainable future of our beloved football club.
In the event the Administrator indicates that ours is the preferred bid, then we will immediately commence our due diligence workstreams (financial, legal, operational) which we need to be completed to our satisfaction ahead of final confirmation of our offer.
Concurrently during this period, TUST will consult its members on the final bid proposal and the planned launch of a fund-raising campaign, which will include a Community Share Issue.
Together with our consortium partners, we plan to organise an in-person open forum for TUST members, potentially as early as next week (possibly Thursday evening – April 11th), to provide more details of the bid and the wider business plan to members and fans and during which we can address your questions as best we can.
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