We understand from press articles that Andrew Smith/UPA has entered into some form of lockout or exclusivity agreement with Alexander Hamilton, the former Chairman of the Club. If this is correct, this will be the second such agreement, the first having lapsed earlier this year.
We are surprised at the announcement made given the minimal contact we have had with Mr. Smith and UPA since March 2005.
We have been working closely with local businessmen Neville Dickens and Geoff Moss for some time now, and it was understood that their negotiations had resulted in a recently revised offer to Alex Hamilton for his interest in the Club's assets, which they felt merited serious consideration.
In addition, discussions were at an advanced stage to acquire the Club's assets from the administrators and plans were being formulated to make a significant offer to creditors.
Given the difficulties of running a football club in administration, the support of messrs Dickens/Moss and their colleagues, both in terms of expertise/services, provided free of charge, plus significant financial commitments, were vital in demonstrating to the Football League that the Club is viable going forward into next season and beyond.
Whilst we are disappointed that an offer, which we felt was extremely attractive, has been apparently dismissed at such a late and critical stage, we are prepared to work with any other party who can demonstrate in financial terms that they are up to the task; both in terms of the significant financial commitments required by a proposed investor by the end of June to assist working capital and the funds required to acquire the Club's assets.
Until such time as we have evidence of the agreement reached between messrs Smith/Hamilton, the amount paid for exclusivity, full details of the plans for the Club and its creditors, and evidence of the ability to fund those plans, we will continue to have concerns as to Mr. Smith's intentions regarding the Club and its assets.
In the meantime, we will continue to plan for next season, with the assistance of the players and staff at the Club, the Wrexham Supporters Trust and fans generally, the Football League, the PFA, Geoff Moss, Neville Dickens, the local Council/MP and all those parties who have provided invaluable assistance in the seven months since the Club entered into administration.
Finally, we intend to continue with the legal proceedings to restore the freehold of the Racecourse Ground for the benefit of the Club and its creditors.
D R Acland & S J Williams
Joint Administrators