[expatriate]

Chimer, thanks for your comments. There are quite a few different ways in which supporters trusts have been set up. I think that my view on this needs just a bit more explanation before you (and others) can see where i might be coming from. It is my view that the initial capital that was needed to help save stanley, and then stabilise it, could not have been invested by any one with a purely commercial outlook. Any sensible measure of business returns etc would have meant that the plan would be deemed to be unfeasible. Equally, in my view, the capital that has been required (and still will be needed) to fund the deficits, is really not commercial. I think i have given my views on why i have made the capital available - and I can confirm that my outlook was not commercial. I have clearly made the capital available in the form of a convertible loan, but i did not believe that the capital would be able to earn a return. Or at least not for a very very long time, and not unless there is a remarkable confluence of circumstance.

Also, looking forward, the club needs more investment in order to bring into place the types of infrastructure that can allow it to think of being self sufficient. In this regard I think its possible that someone (probably me, but who knows, there may be others) can apply a traditional investment yardstick. Even then, the investment in stadium development and pitch improvement is not a small amount and may need the help and support of people and institutions that have a broader, non commercial outlook (local authority etc).

I have therefore assumed that any supporter's trust will only be possible and credible once all these things have been put into place. The risks inherent in any supporter's trsut structure (your point about munto is well made) can be mitigated, but an awful lot of thought has to go into them, and the hardest thing in the world is to create something that is relevant today, but safe tomorrow.

I have gone on long enough, so i hope my post is useful. As I said at the outset I am intrigued by this conversation and feel that it will help shape the eventual outcome. The one thing you can be certain of is that I retain a wholly long term view of the club. I have been involved now for 17yrs, and I can see that the next few years might simply be a small step towards that elusive "objective" of true self sufficiency.

Ilyas