(20/11/06)

Those in attendance included Heather Rabbatts (Executive Chairman), Stewart Till (Football Club Chairman), Peter Garston (Fan Director), Derek King (posts as Hannibal on messagebords), Nick Hart (posts as The Archbishop Of Canterbury on messageboards), Nigel Spink (from HOF) and Graeme Smale (MSC).

Peter opened the meeting by saying that he arranged it, as there was a very real desire from supporters to hear about the progress of the regeneration scheme and how it was going to benefit the football club. Those attending had some technical knowledge in the associated areas of housing, property and local government and also represented major contributors to the fans messageboards in the case of Nick, Nigel Spink and Derek, with the MSC being represented by Graeme.

Derek emphasized that the fans were keen to know how the football club would gain from the scheme; What risk is there to the football club if the scheme fails; In view of the recent announcement of more annual losses is there a plan B if the scheme does not go ahead. Heather stated that although Peter De Savary, initially a prime instigator of the scheme, was no longer involved, the Board was very keen to push on with the regeneration due to the potential profits that it could yield to the club. Indeed she remained convinced that it was viable. She wanted to underline that the club was not moving and that the football ground remained at the heart of the scheme. Given the fact that the club had no intentions whatsoever to leave their ground, the Board could see no reason why any part of the pitch should be sold off or let out to any other party.

She continued that being in inner London complicated the scheme since the land use around the ground was zoned light industrial. If the club is to obtain any variation in planning uses, it must emphasise its role as a significant employer in the area and an established community centre. In answer to the question as to whether there is a plan if this scheme fell by the wayside, Heather stated that the business of the football club is continuing as normal. She is constantly looking at ways to curb losses. Stewart is investigating shirt sponsorship and ways of bringing new investment into the club are being viewed.

Nigel Spink asked whether any development company involved in the construction of the "Sports City& project would take on the Millwall brand name.

Heather said this would not happen as the name unfortunately at present was not considered popular outside our supporter base. This question lead on to a discussion of the mechanics of how the club was to benefit from the scheme and how risks to the Club were to be contained. Heather stated that the Club was looking for a development partner that would see the potential of the scheme, and this partner would provide it's own risk capital. This development partner would also have to understand that a key element of the partnership was that benefits should accrue to the club. Some surprise was expressed that a developer would agree to such a deal but Heather stated that deals like this were being completed across the country and it was her role to find a partner that would be supportive of the Club.

In answer to a question regarding the relationship between the PLC and football Boards, it was stated that the PLC Board was there to foster the interests of the football club and try to put it on a firm financial footing.

Derek / Nigel further enquired whether any public money would be used in the scheme. Heather said that it was envisaged that no public funds would be used. The money would be raised from the private sector. Indeed, under Section 106 of the Town And Country Planning Act 1990, it may be that the local authorities could call for planning gain probably in the form of affordable social housing.

Graeme alluded to a recent regeneration scheme carried out by Sheffield United F.C where ownership of land had been the key to its success. He therefore asked whether the Board had been involved in land purchase or options to purchase around the ground. Heather considered this question to be too commercially sensitive and therefore could not answer it. To indicate that the club was interested in land purchase would inflate prices.

Nigel asked whether an indication could be given of how income will accrue to the Club once the scheme is completed. Heather stated that it was envisaged that income could be raised through trust arrangements or through percentages of rents. It was too early to comment on the in depth mechanism of revenue raising but she was happy to explain this once a development partner had been found.

Graeme pointed out that at the last fan's forum. Heather had stated that she envisaged securing outline planning permission by this autumn. Heather admitted that the time schedule had slipped but she had spent an amount of time getting the relevant local authorities on side and can say that she has had some very productive conversations with them. She thought the scheme would take some 5-7 years to complete. Heather further stated that the scheme does not in any way depend on the Surrey Canal Road Tube extension.

Nick asked as a fan why should he believe in the scheme when there is still little hard information available. Heather answered that the fans must trust her and The Board by their deeds. Peter reinforced this statement by saying his confidential knowledge of the boards support given to the club by board members following the recent announced losses demonstrated the boards strong commitment to the Football Clubs well being and continued existence.

Nick further asked whether there was any solid message that could be taken away and given to the fans. Heather replied that there were several positives. The scheme is still ongoing despite the departure of Peter De Savary; It is currently making very good progress; The fans have an enduring promise that the ground remains at the heart of the scheme and the club is not moving; The fans should be reassured that The Board intends to and can deliver. Heather fundamentally believes that the scheme will reach fruition for the benefit of the football club.

The meeting agreed that there were many other issues to cover with more information to be given as the scheme progresses. Stewart and Heather therefore gave a commitment to further meetings.

The meeting closed at 1 pm