Statement from Matt Hale
Tuesday 14th October 2009
ECHOSPORT can today publish the letter that could spell
the end of the Terras 119-year existence.
The letter, sent by former chairman Malcolm Curtis to the
current board of directors, reveals that both Barclays Bank
and Carlsberg have issued demands for repayment of money owed
The Terras overdraft with Barclays stands at around
£25,000 while the sum owed to the Danish brewing company
is believed to be less, but still a five-figure sum nonetheless.
Weymouth director Ian Winsor revealed in yesterdays
Echosport that the club would not be able to meet the demands
Both debts are guaranteed by Curtis. But the property developer
states in his letter that he will look to collect
his loan of £221,000 plus interest, from Weymouth
FC Ltd or its directors personally, should the Terras
fail to respond, or fail to settle matters with Carlsberg
and Barclays Bank, within two weeks a period which
effectively ends on Monday, October 26.
And the threat of being issued with a winding up petition,
which could result in the Terras ceasing to exist, continues
to hang over the clubs head.
Despite the revelation that Carlsberg has also issued a demand
for repayment, Winsor insists the clubs situation remains
He said: In the grand scheme of things it doesnt
make any difference whatsoever because if we cant pay
one of the guarantees we cant pay any.
We remain determined to take this club forward though.
Events may eventually defeat us but we wont walk away.
Curtis, whom the club is set to take legal action against
on the grounds of gross negligence and misfeasance during
his time as chairman, is adamant that the club must deal with
the outstanding issues.
He said: Ive not called in the loan, Ive
given the club 14 days to deal with the overdrafts. Thats
all I want them to do.
We had a legal agreement in place in regards to my
loan and I agreed to park it, on the grounds of them dealing
with certain things.
One of the terms of the loan agreement was that they
would take full responsibility for the guarantees I
didnt force them to do it and there is a board minute
to say they would go with it.
Asked if he would consider the possibility of winding the
club up, Curtis replied: I dont want to say I
would or I wouldnt.
I just want to deal with the issues at hand, which
are that two loans have been called in and Im doing
all I can to ensure the club deals with them.
When contacted by Echosport, Barclays issued the following
statement: We have worked closely with Weymouth FC over
many months to resolve some of the high profile issues the
club is facing.
We continue to seek constructive dialogue with Weymouth
FC to achieve a satisfactory resolution for all parties concerned.
Managed only a month ago the Terras were celebrating having
raised £50,000 through the Saviour 100 scheme.
Asked how much of that money was still available for use,
Winsor added: Theres still a reasonable amount
left but its being managed as carefully as it can.
People will say why not use the money to pay off these
creditors but we have to pay what we believe are the right
things to keep the club going, such as players wages,
as only then can any creditor have a chance of being paid
Winsor remains Curtis personal accountant but insists
there is no conflict of interests.
He said: I am still his accountant but I have no real
reason not to be as I can distance myself.
I was his accountant when he bought the club in the
first place and in fact he is the sole reason why Im
involved in the business of Weymouth Football Club.