The Trust has received the following information from Paul Finnity.

Bhatia and Strang have failed to complete the takeover in accordance with a deadline imposed by the League. A funding problem was revealed on the morning of Friday 1 August.Despite an alternative source coming forward late on Friday night followed by considerable efforts to move matters forward it was impossible to deliver a credible reason and revised proposal to the League with Bhatia and Strang.As the deadline was not met it was clear that an extension could not be gained on behalf of Bhatia and Strang

The good news is that the Administrator has met with a set of local businessmen and a substantial backer over the weekend, prepared a completely new proposal and will attend the Board of the Football League later at 12 noon. This has been received well by the Leagues solicitor as an initial reaction and the Administrator is reasonably confident that he will succeed in achieving an extension.


More soon.