Towards the end of last season the Trust Board announced that it was changing it’s style of communication relating to all fans message boards and rather than providing answers to individual posts, responses would be provided to questions via this website in the format of periodic Q & A articles, here is the first of the series.
LCFC Online Message Board Poster – Jay
Wheres the money? as you signed a document confirming you were selling your shares on the 11/02/2007 and now 4 months later I haven't noticed any further comment on what you have actually done with all the money, if you would care to explain what you have done with the FANS money
Paula Aldred, Trust Treasurer responds
Like every other shareholder, we haven’t received any money from Mr Mandaric as yet and under the terms of the agreement we may not receive any money until 2010, it is basically up to Mr Mandaric when the payment is made.
As a reminder, each shareholder is only guaranteed to receive 10% of it’s investment, so in the Trust’s case, we will receive £15,100. This level will increase to 50% if promotion to the Premiership is achieved before the 2010/11 season and the full investment paid back if Premiership status is maintained once promoted.
Therefore the money raised has been utilised funding LCFC to date. Once any money is received from Mr Mandaric, the Trust Board will put forward a range of options to current members on how the money should be utilised, and than act accordingly
LCFC Official Site Message Board Poster – Foxxing Despondant.
A while ago someone asked what will happen to the money given to the FT, that there were suggestions that it would be donated to local sports charities if they disbanded. I too gave 100 notes to the FT in the beginning and the thought that that would be given to outside organisations of any denomination simply angers me. How much money was raised and passed to the club? Do the FT still hold any?…….