Following the earlier statements by the Trustees it is appropriate to provide an update.

As all will be aware the charity agreed a period of exclusivity for continuing negotiations with Bournemouth University (BU) until 30 November 2018 and during that period much work has been undertaken by all parties and BU has continued its Due Diligence process, including meetings with all sections of BSC, and all staff.

Following a further submission by BU, which has re- confirmed a number of matters set out previously, the charity has agreed to grant BU a further period of exclusivity until 1 March 2019 to continue their Due Diligence and to firm up on a significant number of matters. In order to do this, further meetings will be necessary with sections, staff and the charity’s professional advisers. A meeting with section chairmen will be held shortly to fully brief them on progress.

The further submission from BU confirmed:

1. They will continue to respect the “red line” stipulations of the charity including security of tenure for the sections, shared use of the site, future BSC involvement in management, protection of staff employment rights.

2. They will make an offer for the freehold of Chapel Gate at least sufficient to clear all bank indebtedness, any liability to Sport England for sinking funds re Astro 1, and satisfy any Charities Act requirements.

3. They will provide committed, but capped, funds over a two-year period to:4

   3.1  Carry out essential Health & Safety compliance improvements

   3.2  Essential remedial works to turf pitches

   3.3  Essential remedial works to both Astros 1 and 2

   3.4  Review, repair, replace or add to floodlighting where necessary

   3.5  Improve access and car parking with potential resurface and line marking

   3.6  Improve condition of main buildings

   3.7  Refurbish changing rooms and toilets

   3.8  Improve clubhouse to be more accessible and welcoming

4. They will continue with Due Diligence

5. They will continue to meet with the charity, including BSC sections and staff with a view to agreeing an acceptable contr things stand at present BU would seek to set up a subsidiary company to manage Chapel Gate with sections booking playing areas and pitches as now, handling BU bookings and any other lettings with charges made to sections along the lines of the current SLAs. This is to be discussed further. All existing lease commitments with third parties would be honoured.

At present BU sees BDRC having representation on this subsidiary although precise details are still to be negotiated.

The present charity would continue in existence, be involved in future capital developments, and be able to make charitable cases for grants in association with BU.

The Trustees welcome the positive way the negotiations are being carried out, for the long-term benefit of the members but recognise there is still much to do in a short time.