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Club News

Update on proposed takeover

5 February 2016

Statement from the Board and owners

In light of questions that have been raised by our supporters since the announcement about the proposed takeover of the club, Chief Executive Michael Dunford, on behalf of the Board, has today clarified the situation regarding the potential change of ownership.


We are expecting contracts to be exchanged on February 12 on the sale of the club.

 

The buyers have filed an application to the Football League with regard to the Owners and Directors test.

 

No money had changed hands so far.

 

The buyers are of Turkish nationality with experience in European football.

 

Board changes would be expected if the takeover is completed.

 

If the takeover doesn't complete, another British consortium are keen to do a deal and are waiting in the wings.

 

The potential takeover did not have any direct effect on our activity during the January transfer window as Mark Yates is still working within his pre-agreed playing budget and has to operate within that financial framework.


But in addition to the agreed budget, the Board and benefactors have provided further funds to add loan players to the squad during the season to date.

  

Michael Dunford added: "Tomorrow is all about another important game at Stevenage. 


"Mark, Jimmy and the players, being professionals, will be doing their level best to end our disappointing run of away results.


"The current owners, potential new owners and our loyal supporters will be wishing them every success." 

 

COME ON YOU REDS!


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