A Message From Trust Chair Pete Ferlie

Dear owners, 

What a win! While I wait patiently for tonight’s cup draw and the prospect of a potential tantalising tie away at one of the big boys, I wanted to write to you all again ahead of this evening’s Trust Board meeting. Quite understandably, there has been plenty of discussion surrounding the Club’s financial position, but Saturday was a reminder of what’s so special about the football team; hard work, discipline and no small amount of skill were on display in a resounding win. Let’s hope Gary and the team are duly rewarded when our name comes out of the hat! 

Behind the scenes, our Trustees are continuing to work closely with The Club to help navigate a shared path towards financial sustainability. This isn’t anything new, for more than 20 years, The Trust and you our owners, have helped to support Exeter City Football Club, not just in the stands but also by continuing to support the Trust’s investment in The Club.  

Since The Trust’s inception in the early 2000s, donations alone have contributed more than £2m towards the running of Our Football Club. This is in addition to individual initiatives, including Pitch in for City, Light Up the Park and those relating to the Recovery Room. As well as direct monetary benefits, our generous volunteers have continued to contribute their time and expertise worth an estimated £250,000 per year; a direct result of supporter ownership. 

Since July 2023, The Trust has had to step up once again. This has included lending the Football Club £1.2 million to support its cash flow, as well as spearheading fundraising in response to the recent fire and overseeing countless community initiatives. 

Looking ahead, we understand why The Club needs to get on a stronger footing, and it is right that as the single biggest shareholder, The Trust continues to play its part. We are committed to looking closely at what The Trust can do to increase its annual contribution towards The Club’s annual budget. We are also very keen to work closely with The Club and understand better its plans for increased income generation and reducing costs. 

Before signing off, it would be remiss not to mention another important game at The Park tomorrow. It's a big game against our friends at AFC Wimbledon. Apart from hoping for a valuable three points, I also wanted to mention we intend to talk to our colleagues about their recent experiences through their bond issue. It’s vitally important we continue to talk to our peers to share and build knowledge and maximise our potential as a Trust to support Our Football Club. 

At tonight’s meeting, we will update you all on our forthcoming member subscription increase and new member drive, an important part of growing Trust revenues to continue to support The Club. I will also provide a short overview of the business we discussed in Part B of the meeting. We look forward to welcoming as many of you as possible to tonight’s Trust Board Meeting. 

Peter Ferlie, Exeter City Supporters' Trust Chair