Trust ready to relinquish ownership of Telford

A new ownership model would make room for external investment but the Trust insist any party willing to add funds must be doing so 'for the right reasons.'

Trust chairman Steve Bowyer said: "Following a club board meeting on October 10 I call for an SGM for the Trust on Monday at 7pm where it will be proposed that our majority shareholding in the football club ceases and that shares be issued as a consequence to parties able to dedicate the required funds to the running of the football club.

"This will not end the Trust's involvement in the support of the football club. However, it will mean the Trust board and membership will follow the same rules around shareholding as any other party.

"This decision has not been taken lightly. However, given the changing landscape of the level of football we are operating at, it is being done to preserve, maintain and improve matters on and off the pitch, which was always the ultimate aim when the Trust was set up some 12 years ago.

"We should be proud of the fact that we as an entity have supported and governed the running of the football club from the outset and each year have donated considerable funds into the football club. However, we also appreciate it is not enough.

"We also acknowledge that any party wanting to invest in the football club will want ownership which under the Trust-owned model cannot happen.

"Therefore, for the good of the club, the proposal is to relinquish our ownership but, and I must stress, be 100 per cent sure that any party willing to put monies in is doing it for the right reasons.

"These last few months have been particularly difficult for all involved in the Trust and club and we hope that this will bring a fresh emphasis on matters both on and off the field."