Repayment of Loan...
The long-term financial loan provided to Exeter City Football Club by the Supporters’ Trust has been repaid.
The Trust’s financial support began when the club was at crisis point - in 2003 - in the form of a long-term, interest-free loan to the club. Following the recent Trust AGM, the Club and Trust boards agreed on the repayment of the loan - a total of £830,058.
A proportion of the money will be invested; all funds, including investments, will continue to be available for capital expenditure and projects to enhance the potential of the club and the supporter experience. The club will continue to have access to the same amount of working capital.
A spokesman, speaking on behalf of the Club and Trust boards, said: “This is essentially about good governance and allows both the Club and Trust boards to make sensible, strategic choices for the next phase of the Trust’s ownership of the Club.
“Although this will make little difference to the day-to-day running of the club, we believe it is important to keep our loyal supporters informed; many of whom will have contributed to the loan in the past.”