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Archived News from March 2008

TAKEOVER LATEST
16th March 2008 22:00


Chad tracks down 2 groups in talks to buy Stags
by Tim Morriss, 12Mar2008

THE takeover saga at Mansfield Town took another twist this week when Chad traced two groups involved in negotiations with the football club.
Both appear to be waiting in the wings to step in if the current deal with a consortium of local businessmen, so nearly signed 12 days ago, falls through.

That offer stalled at the last minute when one of the group's financial backers pulled out on the morning of Friday 29th February, the day the buyout was due to be signed.

But now the local businessmen - known to Chad for a while - hope that their takeover, agreed with controversial owner Keith Haslam, could be concluded this week following further talks with a potential investor.

Full story at CHAD website: here

Stags non executive chairman James Derry hinted at the possible takeover during Saturday's press conference to announce the departure of manager Billy Dearden, saying he hoped there would be 'good news on the takeover this week'.

And on Monday chief executive Stephen Booth, brought in to find a buyer, said that the potential new owners would be consulted over the appointment of the next manager - a move suggesting a sale may be close.

He told Chad: "In the context of any takeover, I would not impose any manager on the prospective new owners without due consultation.

"There is every expectation of an early conclusion to the ownership issue - and I am still talking to several parties - but it would be foolish of me to say it is imminent. Anything could happen, last time we thought a deal was done and then through no-one's fault it did not happen."

If that deal falls down, though, Chad can confirm that there are at least two other possible deals being negotiated.

We have traced two of the parties - who both wish to remain anonymous for now - previously alluded to by chief executive Stephen Booth when questioned about takeover talks.

One of the interests comes from a local businessman, who told Chad: "Mine is a genuine interest, but I would not want to destabilise the current deal which so nearly happened recently.

"However, if that can not be completed, then I hope to move my interest forward. I share the fans' concerns and my message is that all hope is not lost if the current takeover deals falls through."

Another party involved in takeover negotiations involves a group of businessmen. Their interest is at an early stage, but a spokesman told Chad the talks were progressing well and that their interest included both the Stags and the ground - retaining Field Mill as a stadium.

 

Latest | March 2008