Here is the fourth in our series of articles reviewing the progress the Foxes Trust has made against it’s originally declared aims.
Aim – To raise money for the benefit of the club. Funds raised are to be used appropriately as to benefit the best interests of Leicester City Football Club and its supporters.
Review – The Trust initially raised £100,000 and became part of the Consortium which saved LCFC, we were told that if any of those who initially contributed had not become involved the club may not have existed now.
The Trust made two further investments, £30,000 (which mainly came via the fund raising efforts of Alan Birchenall with his annual run) and then an additional £21,000 which at the time meant the Trust was the 13th largest shareholder.
The Trust was the only shareholder to make two additional investments into the club.
Additionally the Trust formed a syndicate to back players who progressed through the Academy and since it’s creation has backed Richard Stearman, James Wesolowski, Chris O’Grady, Alan Sheehan, James Mattock and this season Eric Odhiambo…..
The Trust also launched a Corporate Membership Scheme which is linked to the Friends of the Academy and has so far attracted 8 new companies to back this scheme
Going Forward – The Trust continues to run the players syndicate and Corporate Membership Scheme and intends to continue with both schemes unless Leicester City re-formats its sponsorship structure (which seems to be discussed on an annual basis)
The Trust has very recently received payment from Milan Mandaric of 10% of the original share value (£15,100) in accordance with the change of ownership agreement (we could have been paid anytime between May 07 – Aug 10). Any additional payment is dependent on promotion to the Premiership.
The Trust Board will be reviewing the options available for the funds held and put forward proposals to the Trust Membership at the AGM towards the end of February.
More reviews of our aims will appear next week