Sheepshanks considers Trust

IPSWICH Town chairman David Sheepshanks has listened to those who are keen to help the club by setting up a Supporters Trust.

IPSWICH Town chairman David Sheepshanks has listened to those who are keen to help the club by setting up a Supporters Trust, writes Tony Garnett.

He has already started preliminary work on what he describes as "a potentially good vehicle investment for supporters."

However, nothing can happen until the club is out of temporary administration.

"In contrast to Leicester City, who wound up their old company so that all unsecured creditors lost money, we are trying to do the right thing by retaining the company and the current shareholders," said Sheepshanks.

"I have received inquiries about the possibility of setting up a Supporters' Trust. I am very interested in principle. I am in favour of it but obviously it must be organised properly and will need careful planning.

"It will require professional management and decisions will need to be made as to whether those involved would become shareholders.

"We are trying to prepare a basis for investment on various different levels. We want it to appeal to individuals, to existing shareholders and to attract larger investors.

"It may be that a share offer is the fund-raising exercise that will appeal to the widest possible base.

"I am enormously grateful to the large numbers of people who have written, phoned and made contact by e-mail to express their support during the present financial crisis.

"It is very heartening. A number of fans have offered donations and some have enclosed them," said the Town chairman.