Peace addresses WBA supporters

Dear All

I hope you don't mind me contacting you via the list but it seems the easiest way of explaining what I'm trying to do.

I was invited to join the board 18 months ago. As a lifelong fan (first game vs Blackpool 1964) I had been seeking to invest since 1993. Though I only own 1000 shares myself I was able to bring with me, so to speak, a major investment from Kappa Limited, an investment company I introduced to the club. Since joining the board I've enjoyed, like you, being part of the most successful period in the Albion's recent history. I attributed our success mainly to Gary Megson, but also to the good work of Paul Thompson who always had my full support.

Unfortunately after the end of the season relations between Paul Thompson and Gary Megson, broke down. Trust me, I employed all the skills I've mustered in a quarter of a century of business experience to try to mediate between the two of them. It wasn't going to happen.

Paul Thompson is a gifted businessman and I'm 99% in agreement with him as to how to run a football club. But if in his vision of how to run a football club there is no place for one of the most talented young managers in the country then I'm afraid his vision is flawed. And I felt Paul's resignation was a deeply cynical move, designed purely to buy a bit of time in which, he calculated, Gary would be poached by another club allowing Paul to return to the chairmanship. With this I disagree.

I've talked to Gary Megson regularly and at length and realised he is not intent on bankrupting the club, taking control of it, or any of the other nonsense he's been accused of in the past few weeks. Gary wants to do everything he can to keep us in the top flight. We also need a tightly run and high performance scouting system. Gary just wants to be kept in the loop and have the final say on who's signed and who's retained. I don?t think this is too much to ask. I am confident Gary and I can work together. And I believe Gary shares this view. We?ll argue for sure, but we'll resolve our differences.

When did I decide to go for the chairmanship? On this I?m between a rock and a hard place: if I tell you I?ve always wanted it, I?ll sound like the power-crazed politicking ?glory-hunter? some are seeking to portray me as. If I tell you I?ve been forced into this position you?ll be entitled to wonder whether the job should go to someone who?s not desperate for it.

The truth is this: being a director is a great experience. I can go to every game and have a say in the running of the club while being spared, until now, the day-to-day grief the chairman, chief executive and so on have to go through. I have a good life in London with plenty of fascinating but not terribly time-consuming business interests to focus on. That?s why since last August I have been spending two days a week at the club.

Ultimately the arguments for taking on the chairman?s job are persuasive. I love the club; I have proven expertise in running public companies; I have the contacts to bring in more investment and I have the makings of a geniuinely good working relationship with Gary Megson.

Above all, the question I asked myself was this: will you ever forgive yourself if now, as the club threatens to disintegrate around you, as others play politics with it, you don?t go for it when you?re sure there?s not a better man for the job? Answer: no. So I suggested to the board I become executive chairman. But three members of the board chose to vote against me, preferring to spend this vital close season with only an acting chairman in place, leading to more uncertainty and instability. This I judged to be against the club?s best interests.

A few other points based around concerns I?ve seen raised on the list:

Q. Where were you when we were s**t?
A. Believe me, I was there. Not every game, admittedly, as I had many business commitments. But I was there.

Q. How rich are you?
A. I?m a successful businessman but no Jack Hayward.

Q. How have you made your money?
A. Investing in, advising and running a number of quoted companies.

Q. Who are these other investors you may bring in to the Albion?
A. I sense you are suspicious as to the motives of those I?d bring in. Well, firstly we may need the money. Secondly, I am not going to allow anyone to invest in order to sell off the assets and build an IKEA on the site. There are only two reasons to invest in a football club. Either because you?re a fan or because you believe it will perform better on and off the pitch and so increase revenues and become more valuable as result. When it comes down to it any investor is going to demand on-the-pitch success almost as much as any fan. And ask yourself this: would you prefer someone as chairman who has no contacts and has no means or plans to bring any more investors in?

Q. Are you going to give in to Gary Megson, beggar the club and see us relegated to the Screwfix League within the next 5 years?
A. No Mr Thompson, I?m not.

Q. That ?Badge of Shame? comment in the Birmingham Post. Were you ashamed of the 81 games you went to or the one you missed?
A. What do you think?

Even at this early stage we have identified support for the removal from the board of Clive Stapleton and Barry Hurst from more than 40% of the vote. If they?re big enough to see reason, I could be hard at work very soon with Gary building for next season and you could finally begin enjoying your summer.

Thanks for reading this. I hope it hasn?t raised more questions than it?s answered. As this promises to be one of the busiest weeks of my life I won't be able to reply in person to any questions but I will post something next weekend addressing any concerns you may have.

With best wishes

Jeremy Peace
25th May 2002