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David Hindley
Prolific Goalscorer
Location: Nottingham
Registered:: Fri 11 April 2003
Posts: 443
Posted
Thu 31 July 2003 08:10
The Football League has responded to some of the concerns raised by Notts County Supporters Trust with regards the protracted takeover of Notts County.
Ian Christon, Communications Executive with the Football League said "I can understand your frustration and have noted your comments on the subject in the local media.
Rest assured everyone is working to ensure the long-term future of the club and the proposed takeover by Raj Bhatia and Frank Strang was given approval in principle by the Football League's Board of Directors on JUly 10th.
However some matters remained to be tied up before a formal transfer of the share could take place. Unfortunately these matters must remain confidential at this stage, but everyone is working towards finalising the takeover.
Clubs have begun the season in administration before and any final decision on this with regard to Notts County will rest with the League's Board of Directors.
The Football League's interest when looking to transfer a share (membership in The League) is the long-term future of a football club. Nobody wants to see a club fall straight back into financial trouble and therefore a business plan needs to be put in place for a gradual return to a sound financial footing. This involves cash flow forecasts, business plans etc. and the ratification process is not quick and easy.
I can understand your frustration that the deal is not yet formally ratified but everyone is working tirelessly to ensure Notts County FC has a bright future".
Regards,
David Hindley
Interim Chair
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