Did the Supporters Trust try to renegotiate the amount or the timing of the two instalments?
The amounts and timing of the instalments were set by the Football Club at the time of the conversion to the PLC. The Supporters Trust approached the board of directors of the PLC in early 2005 with a view to renegotiating either the amount or the timing or both. This was rejected on the grounds that both had been set at the time of the conversion. The Supporters Trust was faced with the likelihood that if it failed to pay the first instalment by 18th February 2005 then it would lose its right forever to appoint a director to the board of the PLC.
