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Page last updated at 20:46 GMT, Friday, 3 July 2009 21:46 UK

Stockport move closer to takeover

Jim Melrose
Jim Melrose in his Manchester City days a quarter of a century ago

Stockport County's anticipated takeover appears closer following a meeting of their creditors and administrators.

County, who went into administration in April, have debts of nearly £7million and face a 15-point deduction next season if a deal is not reached.

But a consortium headed by former Man City player Jim Melrose have met with Sale Sharks and Cheshire Sport, the landlords of their Edgeley Park home.

And the League One club are understood to now be close to finalising a deal.

Edgeley Park is also shared by leading Rugby Union side Sale.

And Sale chief executive James Jennings told BBC Radio Manchester: "I was very encouraged by today's meeting.

"I think the Melrose consortium have obviously struck a deal with the administrator Leonard Curtis which is satisfactory.

I just hope the club isn't being too badly scarred

Former Stockport County chairman Martin Reid

"The only thing that is left to be done now is just to finalise the terms of the lease between Cheshire Sport and the Melrose consortium and we're at a very advanced stage on that."

Stockport are without a manager after Jim Gannon, who took charge at Scottish side Motherwell last month, was made redundant to cut costs.

Former County chairman Martin Reid is hopeful that the prospective new owners will help rebuild the club.

"I just hope the club isn't being too badly scarred as, over the last two or three months, there's been a lot of players coming and going.

"I wish them all the best and hope that whoever becomes manager gets the best out of the players and put this club back up in the Championship where it belongs."



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