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Last Updated: Saturday, 29 April 2006, 14:24 GMT 15:24 UK
Wrexham on verge of rescue sale
The Racecourse Ground, Wrexham
Wrexham must be sold by a 3 June deadline under League rules
Wrexham football club moved another huge step towards a secure future on Friday after administrators accepted a bid to buy the north Wales club.

A consortium headed by businessman Neville Dickens is set to become the owner after an exchange of contracts.

However, the sale must be approved by creditors and shareholders of the club and be ratified by the Football League.

Former owner Alex Hamilton is one of those creditors and could again resort to legal action to block the sale.

But having already lost a Court of Appeal decision to retain ownership of the club's Racecourse Ground, any further court action by Hamilton is unlikely to be successful.

The Inland Revenue and Hamilton are the major creditors, after the League Two club went into administration in 2004 with 4m debts.

Hamilton and fellow former Wrexham FC owner Mark Guterman are under investigation by the Department of Trade and Industry over their running of the club.

Whilst the champagne corks are still in the bottle... we hope that the end is in sight
Administrator David Acland

The pair run the risk of being disqualified from being company directors should the DTI find any improper conduct.

The administrators working for Wrexham FC, Begbies Traynor, hope to have a formal meeting with all interested parties by the end of May to consider the sale.

The sale of the club is vital as it will allow the Dragons to move out of administration, which would preserve the club's Football League status beyond this season.

A club runs the risk of being expelled from the League if it has been in administration for more than 18 months - with Wrexham's deadline on 3 June.

Administrator David Acland said: "Meetings will take place during the month of May to ensure that wherever possible we achieve a completed and consensual rescue prior to the deadline.

"This has been the most difficult football assignment we have undertaken to date by far.

"Immense progress has been made in getting to this point and we are fully intent on seeing the rescue through to a swift and successful conclusion."

Dickens, a millionaire car dealer, and business partner Geoff Moss have the support of the majority of Wrexham's supporters.

"We believe the Neville Dickens consortium is a party that has the interests of the club at heart and has the funding to take this club forward," Mr Acland added.

"Their's was a credible bid, it was a timely bid, it was the right amount and it was capable of being delivered.

"This is the third hurdle we've overcome and maybe the biggest.

"Whilst the champagne corks are still in the bottle, the hurdles have been eliminated one by one and we hope that the end is in sight."




SEE ALSO
Wrexham FC deal 'within a month'
30 Mar 06 |  North east
Worry over possible Wrexham bids
21 Mar 06 |  North east
Smith upbeat over Wrexham future
14 Mar 06 |  Wrexham
Ex-soccer club directors' inquiry
21 Apr 06 |  North east


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