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Alex Petheram: A Statement from the Chairman

Alex Petheram: A Statement from the Chairman

Alex Petheram28 Mar - 12:30

Alex Petheram: Statement on the clubs structure and lease.

As the season comes to a close, here's where we are and what's coming next.

We've restructured the club for next season. Wells City Football Club Ltd is now the parent company, with myself, James Bevan and Gino Nicodemi as directors. Under that we've set up two separate limited companies: Wells City FC Men Limited and Wells City FC Women Limited. The first teams sit in those. Everything else, youth, reserves, A Team, stays unincorporated under the main club.

Why have we done it this way?

A few reasons. If someone wants to invest in or buy the men's or women's first team in the future, they can. But they only get the first team. The ground, the lease, the youth section, none of that moves. Wells City Football Club Ltd holds the lease and all the assets. The trading companies hold nothing. They exist to play football, that's it.

It also means funding works differently. Someone who wants to put money into the women's section can do that cleanly. Someone who wants to back the youth teams can do that too. It removes the cross club politics that can come with a single structure.

And practically, if the reserves or A Team have a tough season financially, the whole club structure supports them. The first teams are separate, so there's no bleed between them and the rest of the club.

It's a proper legal structure built for growth, not just for now.

On the ground

The new lease is back with the solicitors and we're getting close. Good news there.
Following the Sports Club meeting this week, it's been agreed we're replacing the car park over the summer. The diggers go in during the closed season, the old surface comes out, and we're laying two layers of tarmac over a properly stoned base. New entrance, safe surface, no more potholes. Long overdue!

Next up, floodlights and changing rooms. Watch this space.

Good luck to all the teams this weekend.

Come on Wells.

AP

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