Chesterfield takeover bid withdrawn
A proposed takeover bid led by fans of National League club Chesterfield is believed to have been shelved for the time being.
It had earlier been reported that the consortium were in some form of negotiations with the club, however due to the changing circumstances at the Spireites, any potential deal has now been put on hold.
In a statement by a representative of the the supporters’ led consortium said, “I have today unfortunately withdrawn our offer of buying the club. “It is not the end of our interest but the circumstances have changed since my initial offer.
“Martin Allen and co have departed, Graham Bean (CEO) has been appointed and a new manager is imminent.
“These circumstances have changed the cash flow for this season to a point where it is not viable for us to be prepared to fund the shortfalls and waste money.
“The door is not closed to us, but the timescale for both parties to conduct satisfactory due diligence is key, with time running out this season.
“However, I can state that monies was not an issue and thank everyone for both contacting me and assisting me in the background.
“We had gone as far as securing good income for the next five years from an outside group of companies who were willing to buy shares within CFC through the help of another fan who has been working behind the scenes.”
Following relegation from League Two last season, Chesterfield are currently sitting in 22nd position in the National League, just a point above the relegation zone.
Tagged Chesterfield FC