Dear Christine, Kevin and Steve,
I am very disappointed after giving you extended deadlines twice that you have failed to respond to the questions which, if you were serious, you would have dealt with responsibly and comprehensively.
The proposal that you put to me which the press referred to as a £23m hostile bid and which you, both in your letter and publicly have stated is a £16m bid, is as you have now admitted no bid at all, but an invitation for me to give you all the assets and cash without you producing one penny of new money. In short, you are asking me to give you all the cash and assets and you have not even answered the basic questions I have to put to you.
I believe that if you were left to run the club it would go to the wall because you do not have any money or the experience necessary to support the club in its moment of need. It would be irresponsible of me to simply hand this over to you as it is clear to any independent observer that you could not operate it successfully. From the many discussions I have had with large numbers of fans, it is clear that they have seen how I have been able to support the club through tough times and know I am in a position to do so in the future. They have implored me not to hand over the cash and assets to you.
I reiterate my admiration for your tenacity, enthusiasm, commitment and love for the Club. As I have said before, these are wonderful qualities which I share with you, but these alone are not sufficient to ensure the continuance of our Club.
I conclude by asking you and the members of BST to get behind the Club, the Manager and the team and support them. I know there will be disappointments ahead, however, I really believe that we can get back to winning ways and return to the top flight. For my part, I am dedicating my life to achieving the success that we all want.