News Article

Thursday 24th July 2008: United Trust Press Statement 24.07.08

There has been further mistaken comment in the Press regarding the United Trust. We are determined to forge a positive relationship with the other owners of the Club as we move into a new season and feel it would be wise to correct what can only have been said due to an understandable lack of knowledge of our organisation on the part of some of those only recently involved in the running of the Club.

The much-discussed 'land issue' is straightforward. Before the previous owner of the Club arrived in 2004, following his purchase of the controlling interest for £100, an arrangement had apparently been made whereby some 110 acres of land near the city centre and the property of Carlisle United, was to be donated free of charge to the former owner. The Trust has a legal duty above all else to protect the interests of the Club and consequently prevented the land being given away. Despite numerous attempts by the Trust to avoid having to go to law, the matter went before the Courts and was resolved by a Joint Undertaking agreed in the High Court on May 14th, 2008. Both parties agreed that the land could only be sold at a time and in a manner advised by Knight Frank, tha nation's largest firm which deals with such matters. Under the terms of the Joint Undertaking all funds from any sale will go to the Club. Furthermore, as part of Knight Frank's professional valuation of the land they have already advised that any sale of the land should incorporate an overage clause, so any increased value at any time in the future deriving from planning changes will also go to the Club.

The allocation of costs in the action have yet to be finalised.

The United Trust welcomes the new owners and hopes that they will invest in the club as the Trust has. Through the donations of more than 1650 people the Trust has invested more than £800,000 into the Club and is the largest shareholder in the Holding Company, with 25.37% of the shares.

In terms of shareholding in Carlisle United, contributions to the Club and membership of the Trust, the Carlisle United Trust has always ranked among the largest and most successful of the 150 or so similar Trusts which now form part of the normal life of most Football Clubs around the country, and we look forward to working with the new owners on projects which will boost both the Club financially and the interests of the wider Cumbrian community in their last remaining professional Football Club.