Newcastle United Supporters Trust (NUST)

[nbthree3]

"It is the view of both the Guardians of the Scheme and the majority of the Trust Board that the time is now to end the Scheme.  There is no longer any likelihood that the money in the Pledge Scheme will be able to purchase any shares in Newcastle United. The change in ownership has, in the view of the Guardians and the Board, changed the possibility that the club will need to be rescued by supporters in the short, medium, or long term"

[Fantail Breeze]

Alex will be furious.

 

Wonder if they’ll be able to actually achieve something else now they’ve finished with this impossible dream.

[Ben]

I hope wor flags get some of the money, I can't remember if they had charities lined up to give the cash to or we all just vote 

[WarrenBartonCentrePartin]

“Unfortunately Alex spent all the money having the mother of all Christmas feasts like Henry VIII.”

[Joey Linton]

So the money was only ever for buying from Ashley? I'm confused. 

 

Would be interested to hear who specifically it is on the Trust board that thinks it should carry on collecting people's money though. And why. 

 

 

Edited January 12, 2022 by Joey Linton

[Guest Biggsbond14]

Just now, Joey Linton said:

So the money was only ever for buying from Ashley? I'm confused. 

No it’s having a say n the running of the club, total pipe dream in reality 

[Guest reefatoon]

1 hour ago, Fantail Breeze said:

Alex will be furious.

 

Wonder if they’ll be able to actually achieve something else now they’ve finished with this impossible dream.

Im personally really excited for the release of the transfer window story in the medium of jigsaw. 1000 piece special with all your favourite January links. Can’t fucking wait.

[Guest Biggsbond14]

5 minutes ago, Joey Linton said:

So the money was only ever for buying from Ashley? I'm confused. 

 

Would be interested to hear who specifically it is on the Trust board that thinks it should carry on collecting people's money though. And why. 

 

 

 

Mystery to most I guess and maybe they just wanted to collect till a decision is made, ironically got my email today to vote on it 

[Fantail Breeze]

9 minutes ago, Joey Linton said:

So the money was only ever for buying from Ashley? I'm confused. 

 

Would be interested to hear who specifically it is on the Trust board that thinks it should carry on collecting people's money though. And why. 

 

 

 

 

You’ll be able to find out in the next release of the Board meeting minutes, or I’m sure Greg will finish work in a bit and let you know.

[Guest Biggsbond14]

Off my email today 

Member Vote: Future of the 1892 Pledge Scheme

Dear member,
 
The 1892 Pledge Scheme was launched in April 2021 with the aim of acquiring and holding, either directly or through a subsidiary, all or any of the shares and securities of Newcastle United Football Club or any other company owning or controlling the club. 
 
At the time of writing over 6,000 Newcastle United supporters have pledged over £200,000 in support of the Scheme.
 
When the Trust launched the Scheme the football club was owned by Mike Ashley, in danger of being relegated and the future of the club was uncertain. In October 2021 the club was sold to a consortium led by Amanda Staveley and Mehrdad Ghodoussi.  The Trust and its members have consistently supported our new owners, before and after the Takeover process was completed.
 
The Trust has held informal conversations with the new owners who have provided support and advice to the Trust Board on the 1892 Pledge Scheme.
 
The figure of £200,000 raised by Newcastle United fans is a mammoth sum in such a short period of time. The number of monthly pledges has understandably declined since the Takeover. In December 2021 1,400 people pledged just over £10,000 to the Scheme. 
 
In the 1892 Pledge Scheme Rules (found here) point 2.8 states
 
2.8. In the event that the Trust Board and the Guardians of the Scheme decide that there is no longer any likelihood of being able to buy any shares in the Club and therefore to wind up the scheme, The Trust will then consult with its members to get agreement on the best way to distribute the monies raised to a Sporting Charity or Charity in the North East England Region. 
 
On 16th December 2021 the 1892 Pledge Scheme Guardians met to discuss the future of the Pledge Scheme and decided to advise the Trust Board that the Scheme should end. You can read the minutes of that meeting here. 
 
On 21st December 2021 the Trust Board met to discuss ending the Pledge Scheme and voted to put to the members of the Trust the question of if the Pledge Scheme should stop collecting payments and begin the process of distributing funds to charities in the North East of England.  You can read the minutes of that meeting here.
 
It is the view of both the Guardians of the Scheme and the majority of the Trust Board that the time is now to end the Scheme.  There is no longer any likelihood that the money in the Pledge Scheme will be able to purchase any shares in Newcastle United. The change in ownership has, in the view of the Guardians and the Board, changed the possibility that the club will need to be rescued by supporters in the short, medium, or long term.
 
The Trust Board has put together a summary of arguments made for and against continuing the Scheme.  You can read the motivation behind ending the Scheme and arguments for continuing the Scheme here.
 
Please click this link to cast your vote on the future of the Scheme.  Voting will close on Friday 14th January 2022 at 5pm and the Trust will contact members within 48 hours to communicate the results of the member decision and any next steps required.

Trust Members are asked to vote on the future of the 1892 Pledge Scheme. This document sets out basic arguments for and
against ending the 1892 Pledge Scheme.
Arguments to end the Scheme
• At the time the Scheme was set up there was a real possibility that under the ownership of Mike Ashley the club would be
relegated and then possibly relegated again. In those circumstances, the fans would most likely have to pick up the pieces
to save the club. The club would be of much less value and being able to raise funds to purchase part, or all, of the club,
was a realistic prospect in that scenario.
• Since the takeover of Newcastle United by the Consortium of PCP Capital Partners, the Public Investment Fund (PIF), and
RB Sports Media, Newcastle United changed for the better overnight. There is no longer a realistic long-term prospect of
needing to use the funds to purchase shares in Newcastle United to safeguard its future.
• We have already seen a significant improvement in communication from our owners compared to the previous regime
meaningful engagement with good owners does not necessarily need to involve owning shares in the club. We are seeing &
change in this area throughout football, for example, Liverpool, Manchester United, and Chelsea have recently agreed to
fan representation at Board level without share ownership. This could also yet be mandated if the fan-led review
recommendations are implemented by Government.
• The Trust can now use this money to donate to charity projects based in the North East of England, where this money can
make a real difference to those that need it. In the event that the Members vote to end the Scheme, the Trust will
commence a process of engagement with the membership in relation to which charities to donate the money to
Arguments not to end the Scheme
• The main Object of the Trust is to achieve some element of fan influence in the Club. Our Rules explicitly give us the aim of
seeking at least in part, fan ownership of the Club and the powers to raise money to do so
• The Scheme was set up by the Trust as a long-term effort to raise the funds to buy a share of the Club. It acknowledged
the value of the club was approximately £350M. With very little promotion, apart from the launch, it has raised £200,000 in
8 months- a considerable achievement, and unique in English football.
• The continued existence of the Scheme will give the Trust a chance to continue to build the fund and so give the Trust at
least the possibility to buy a stake in the club if the opportunity arose in the future. We cannot assume at this early stage of
the new ownership, that there will never be a chance to buy a stake in the club, on behalf of the fans. The funds already
raised, and the continued existence of the Pledge will also demonstrate to the owners that we are a credible organisation
capable of raising large sums of money from the fans who trust us
• We should at least wait to see if the recommendations of the fan-led review are implemented by Government, as it is not
certain it will be and if it is, it may not be implemented in its entirety.
• We should honour the desire among our fans to have a financial and/or meaningful stake in the club and retain the
Scheme at this time in case the opportunity to purchase a share in the club arises in the foreseeable future. The new
owners have only been in place for less than three months.

 

 

Edited January 12, 2022 by Biggsbond14

[Foluwashola]

Correct decision, had cancelled my pledge last month anyway.

 

Was probably an unrealistic aim, but £200k for charity is fantastic.

[Ben]

Does it mention a vote on what charity's are getting money ?

[Guest Biggsbond14]

1 hour ago, Ben said:

Does it mention a vote on what charity's are getting money ?

The Trust can now use this money to donate to charity projects based in the North East of England, where this money can
make a real difference to those that need it. In the event that the Members vote to end the Scheme, the Trust will
commence a process of engagement with the membership in relation to which charities to donate the money to
Arguments not to end the Scheme

[Joey Linton]

Would be a nice touch if they organised for a couple of random Trust members to be pictured handing over the cheques to charity rather than board members doing it. 

[Heron]

8 minutes ago, Joey Linton said:

Would be a nice touch if they organised for a couple of random Trust members to be pictured handing over the cheques to charity rather than board members doing it. 

Good suggestion this. Should put it to them

[Fantail Breeze]

15 minutes ago, Joey Linton said:

Would be a nice touch if they organised for a couple of random Trust members to be pictured handing over the cheques to charity rather than board members doing it. 

 

I know someone who will be front and centre regardless  Wonder if he’ll call it his donation again.

[Chapo]

It would be good to use the full 200k on a bronze statue of Alex with his arm around the Bobby statue. 

[WarrenBartonCentrePartin]

Just saw on his LinkedIn he went to RGS anarl. Surprised he doesn’t prefer egg-chasing over the peasant sport.

[TheGuv]

40 minutes ago, WarrenBartonCentrePartin said:

Just saw on his LinkedIn he went to RGS anarl. Surprised he doesn’t prefer egg-chasing over the peasant sport.

Nowt wrong with RGS or rugby 

[RealGoneKid]

Just now, TheGuv said:

Nowt wrong with RGS or rugby 

Bummers

[Heron]

Just now, TheGuv said:

Nowt wrong with RGS or rugby 

How do you like your eggs in the morning?

[TheGuv]

Just now, Heron said:

How do you like your eggs in the morning?

Are you yolking or being serious? 
 

(Scrambled)

[Heron]

14 minutes ago, TheGuv said:

Are you yolking or being serious? 
 

(Scrambled)

I was yolking. It's a song aint it.

 

Scrambled is best like. Bit of broon saace

[rickyprickles]

32 minutes ago, Heron said:

How do you like your eggs in the morning?

 

Fertilized.

[Montey]

Does the NUFC Trust actually have any of the money?

 

I thought it was a pledge to give money, but money would only be transacted if the target(s) were achieved.

 

If I am correct, then the NUFC Trust isn't actually in possession of any money to give away - hence winding up the pledge program should be as simple as telling people that their pledges no longer have to be honoured, that no more pledges will be taken, and that the campaign is being wound up.

 

If I am incorrect (that the Trust has received the money) then all of the money should be returned to those who pledged it, as it was pledge for a specific purpose and not for some plan-B option.  If those who pledged money wish to give it to a charity then they can and should do so, separate from any action by NUFC Trust once they have received their refund.

 

I will say, I always thought that, whilst the Pledge campaign was well intentioned, it was never going to succeed.  To achieve even a 1% ownership stake in a £300M company was going to require £3M, plus transaction costs (broker's fees, etc).  Even if NUFC Trust achieved pledges to the value of £3M (plus transaction costs), a 1% ownership stake was going to give them no influence within the board room - at best the ownership would have provided some fiduciary transparency, through annual reports (and £3M+ is a lot to pay to get an annual report).  Fan ownership/influence may be an achievable dream in lower leagues (for clubs worth less than £10M.  e.g.  10% stake in a £10M valued club), but it was never within the realms of reality for a club worth more than £100M.  The only way "fan ownership" would ever be achieved for higher value clubs is if a small number of very wealthy "fans" were to participate, but then those few individuals would seek to hold the dominant voices (as they put up the majority of the money) in which case most fans would have no say anyway.