With the Trust

"WITH just days to go before the Company Voluntary Arrangement is put to the meeting of creditors of York City and with the football authorities closely monitoring the situation, a solution to secure a home for the club for at least ten years has been agreed in principle amongst key parties.

This involves the suitable re-development of the Monks Cross stadium site for use by the new company that will operate the football club.

The major re-development of the Monks Cross site will, in effect, be funded by parties other than the new company.

At an Urgency Meeting of City of York Council on Monday, council members approved in principle to lease the re-developed Monks Cross stadium site to York City for a minimum period of ten years at a peppercorn rent.

Security of tenure at a football ground for a period of at least ten years is one of the key Football League requirements that need to be satisfied prior to the transfer of League membership to the new company.

Whilet matters have yet to be formally approved by the Football League, all of the key parties involved in the agreement hope to ensure that it is satisfactory to the League.

York City Association Football & Athletic Club Plc (In Administration) currently have use of the Bootham Crescent ground under an agreement with Bootham Crescent Holdings plc ('BCH') entered into in April 2002.

The terms of that lease expire on June 30, 2003.

BCH has entered an agreement with Persimmon for the sale of the Bootham Crescent site at a time in the future when the club has vacated the site. In turn, Persimmon propose to build housing on the site.

It is necessary for the League to be satisfied that the club has security of tenure on a home ground of at least ten years to enable the transfer of membership.

Therefore, to enable York's football club to survive and play in the League, it is necessary for a solution to the ground issue to be identified and agreed by the key parties.

The Trust has previously stated that it considers that City should be able to continue playing at Bootham Crescent at least until an alternative stadium is available for use in the York area.

Clearly, different parties will have different perspectives on the necessary criteria for such an "alternative stadium".

Clearly, if the club has to move from Bootham Crescent, the Trust would like that to be to a superior stadium in terms of the overall balance of capacity, facilities and location/accessibility. The Trust continues to maintain this perspective.

Bootham Crescent has been the home ground for City since 1932. Clearly, it is a place that many supporters cherish dearly and any move away from Bootham Crescent by the club will stir great emotions for many people.

Since January 2002, Trust representatives have been party to certain meetings and discussions regarding a future site for a stadium for the club.

However, until February/March 2003, while the Trust has been an interested and important party in the equation, it has not had control, or the prospect of control, over the club itself.

At this point in time, other than the existing site at Monks Cross, as far as Trust representatives are aware, there is no clarity or certainty that an alternative stadium to Bootham Crescent could be developed for use by the club within the next few years, in the light of, in particular, planning and funding requirements for such a facility.

At a meeting of various parties on March 6, 2003 - including representatives from BCH, Persimmons, the Council, the administrators and the Trust - an agreement in principle was reached in relation to the suitable re-development of the stadium site at Monks Cross for use by York City FC as its home ground in the future."

Updated: 09:24 Thursday, March 13, 2003