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Author Topic: Wrexham plan bright future...  (Read 1393 times)

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« on: Wednesday, January 26, 2005, 20:32:47 »

Prospective Wrexham buyer Andy Smith says his plans for the club will see it "flourish" in the future.
The Surrey businessman expects to buy controversial owner Alex Hamilton's 78% stake within 21 days and says he will sign an exclusivity deal on Wednesday.

"The deal is agreed and I intend to put Wrexham back on its feet," said Smith.

"We'll meet the fans soon and look forward to having them on our side. The Racecourse will stay where it is and there's money to move forward."

However, the club's administrators, Begbies Traynor, must be satisfied that Wrexham's creditors will be paid.

"Alex Hamilton and Andrew Smith have agreed a deal in principle for the shareholding of the club and the freeholding of the stadium grounds," administrator Steve Williams said

I wonder if things had got that bad for us over the unpaid VAT, the option of not being able to go into Admin again would have scuppered any potential rescue package.

If you where an ultra-cynic you could even say that was part of the reason behind the 2nd admin.  Not only does it cut debts but it could be argued it deters those potentially sniffing around with a take over bid from landing any of the potential cash from a Stad deal.

  Bit OTT that mind.   :roll:

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