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Former Argyle directors pull out

Affinity Sports Finance, a group associated with Argyle directors Sir Roy Gardner and Keith Todd, has pulled out of the bidding for the stricken League 1 club now in administration.  It would appear that they could not raise the required funding in the short period of time it needs to be secured.  Each potential buyer has been asked to provide a six figure sum up in front to ensure exclusivity in the bidding process.

Halesowen Town in danger

Zamaretto Premier League team Halesowen Town FC face a real danger of going out of business after their main benefactor stopped bankrolling the club.   Godfrey Ingram took exception to an article in the Halesowen News which revealed that he was facing a lawsuit in the USA which included claims of racketeering.   He accused the paper of sensationalising a private business matter and announced his immediate in

More confusion at Wrexham

The future of Wrexham Football Club remains in disarray after hotelier Stephanie Booth withdrew her bid or, according to her account, the owners decided that they preferred former striker Ashley Ward.   Wrexham Supporters' Trust were considering a bid of their own or joining Booth's bid, but have announced that they will stand back, leaving Ward as the favoured bidder.

Banker in talks over Argyle

Devon-based millionaire James Brent is one of four bidders to take Plymouth Argyle out of administration.   He is a former banker with a large property portfolio.  The one time chairman of the Plymouth City Development Company has experience of buying companies out of administration and turning them around and would be keen to redevelop Home Park.

Argyle bids have to be in by Monday

Bids to take Plymouth Argyle out of administration have to be submitted by midday next Monday, March 14th.   The administrator then hopes to make an announcement about a preferred bidder by this time next week.   Four groups are said to be potentially interested.

Less debt would be better for United

Giving evidence to the House of Commons select committee inquiry into the governance of football, David Gill, the chief executive of Manchester United, admitted that 'it would be better' if the club did not have to pay gross interest of £45m a year on net debt of £370m.

However, he denied that it had had a detrimental impact on the performance of the team.  'It hasn't hampered investment in players and facilities, and we've taken a long-term view on investment that we wouldn't have if we were still a public company,' Gill said.

On pitch stunt announces prospective Wrexham owner

63-year old Stephanie Booth was announced as the preferred bidder for Wrexham yesterday in an extraordinary stunt on the pitch.  You can see video of the announcement here.   Against police advice, the local hotelier went on the pitch before the match and opened a sealed envelope from owners Geoff Moss and Ian Roberts.

Setback for FC United's plans

FC United have received a blow to their plans to move to a new stadium at Newton Heath which was where Manchester United originated.  The plan to build a £3.5m 5,000 capacity stadium at Ten Acres Lane is being reviewed by Manchester City Council after severe cutbacks in government funding.

The club has raised £1.3m of the £1.5m they aim to secure through their community share offer.  The City Council remain committed to find the club a new home by 2012.

Financial problems at Blues

In the wake of their Carling Cup triumph, Birmingham City are facing financial challenges.  Indeed, the Carling Cup victory has contributed to the problems as it means that substantial bonuses are now due for payment to players and the manager.  However, should the club be relegated, the bonuses would be reduced.

QPR in takeover talks

Table topping Queen's Park Rangers have confirmed that they are in talks for a sale of a 67 per cent majority holding in the club.   The identity of the prospective purchaser is not known, although there have been reports of a consortium of Asian and American businessmen.