Club sale moves after legal win

Wrexham FC went into administration last December

Moves are being made to find a buyer for Wrexham FC after administrators won back the freehold of the ground.

A High Court judge decided on Thursday that the freehold of the club's Racecourse Ground should be returned to the club's administrators.

Club owner Alex Hamilton should not have transferred the freehold into one of his companies, the judge said

Administrator David Acland said talks were held on Thursday night with two parties interested in buying the club.

The ruling at Birmingham High Court found that the freehold of the club should be held in trust for the administrators forestalled a full court hearing which had been set for next month.

Sale proceeds

At a news conference on Thursday evening, Steve Williams of administrators Begbies Traynor said that Mr Hamilton could not appeal against the judge's decision, but could petition the Court of Appeal against the ruling.

Administrators will have to pay Mr Hamilton £300,000 from the proceeds when the club is eventually sold.

Wrexham manager Denis Smith said the news was a great step forward which would ease uncertainty surrounding the club.

Around 200 fans cheered and sang "We Shall Not Be Moved" outside the Racecourse Ground on Thursday evening as the news that the freehold had been returned to the club was announced.

The administrators said an obstacle to the club's sale had been overcome

Property developer Alex Hamilton took over from his former business associate Mark Guterman as chairman of Wrexham FC in 2004.

By the end of the year, the club had gone into administration with debts of more than £4m and in May 2005 was relegated to League Two following a 10 point penalty imposed by the Football League.

Administrators began a High Court case to seize the Racecourse from Mr Hamilton.

The court hearing in Birmingham was told that his company, CrucialMove, had negotiated to buy the Racecourse with plans to develop the site for housing or commercial use.

But on Thursday, a judge decided that CrucialMove should not have bought the freehold of the stadium.

David Acland, of the administrators, said there were still "fairly huge obstacles to overcome".

Delighted fans gathered to hear the news

He added: "We're still some months behind. We had hoped to be in this position in July and we hope to effect a sale prior to Christmas."

He said there were three or four parties interested in buying the club and the parties would now have to re-examine their bids.

"There are a couple of groups of frontrunners who have been instrumental in getting us to where we are today," he said.

Mr Acland added that it was too early to be "popping champagne corks". It was crucial that the club was sold before next May, as the Football League only allowed one season in administration before throwing out a club.

Denis Smith, who also confirmed the club's signing on loan of striker Juan Ugarte, said: "It eases a lot of uncertainty. If the ground is back with the club I think everybody is happier."

Lindsey Jones of Wrexham Supporters' Trust said the group was now hopeful that a sale could now be negotiated with the consortium led by car dealer Neville Dickens by Christmas.

He said he was delighted the freehold had been returned to the club as were the hundreds who had turned out at the club.

"If we'd lost it couldn't have been contemplated - but we've won. We'll have a party tonight and in the morning the work starts again," said Mr Jones.