Exeter City repay loan to fans that saved club

Exeter City, the fan-owned club who were saved by their supporters when the club was in crisis in 2003, have repaid the long-term interest free loan provided by the Exeter City Supporters’ Trust (ECST).

Following ECST’s recent AGM, the club and trust boards agreed on the final repayment of that loan – a total of £830,058.

FSA vice chair Tom Greatrex said: “The next time somebody claims sustainability in football is impossible, I’ll point them in the direction of Exeter City where supporters have helped create a thriving community-club with a very competitive team on the pitch.”

The trust said a proportion of the money will be invested; all funds, including investments, will continue to be available for capital expenditure and projects to enhance the potential of the League Two club and the supporter experience. They also say the club will continue to have access to the same amount of working capital.

A spokesman, speaking on behalf of the club and trust boards, said: “This is essentially about good governance and allows both the club and trust boards to make sensible, strategic choices for the next phase of the trust’s ownership of the club.

“Although this will make little difference to the day-to-day running of the club, we believe it is important to keep our loyal supporters informed; many of whom will have contributed to the loan in the past.”