STATEMENT FROM ‘SAVE WATKINS’ ON THE SOMERA ROAD OFFER AND WATKINS BOARD RESPONSE

“We appreciate Somera’s offer and will review it along with multiple other offers we have received for the property.” - Watkins Board, March 13, 2020

Given the Watkins Board’s long track record of falsehoods and misrepresentations over the last several months regarding their insider deal to give away the Watkins College property to Belmont, it is impossible to take their vague statement to the new offer by Somera Road, Inc. at face value.

Simply put, the Watkins Board must immediately demonstrate, through words and actions, that they intend to heed State Senator Brenda Gilmore’s call to suspend negotiations with Belmont and engage in an open, transparent process going forward. They must halt their secretive push to finalize the insider deal that they have deceptively pursued behind closed doors for months.

It is very telling that the Board’s response only addresses the property sale aspect of the Somera Road proposal. It fails to address the fact that this new proposal, unlike Belmont’s, actually offers a path to maintain Watkins’ independent status.

As the Board knows full well, it is the only proposal on the table that honors Samuel Watkins’ explicit instructions, baked into Tennessee law, that his bequest is used to establish and run an independent school, accessible to all.

As the Public Trustees of Samuel Watkins’ bequest, it is the solemn fiduciary duty of the Watkins Board, which is led by Commissioners appointed by the Governor, to seek, above all else, solutions to the short-term financial challenges that will maintain its status as an independent institution.

Released: Friday, March 13, 2020

CONTACT:  Save Watkins, Quinn Dukes, 646.704.4761, quinndukes@gmail.com