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High noon in Stags takeover!


Derry ultimatum to Haslam: Decide by midday Thursday or we walk away

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Published Date: 28 November 2007
Email Tim Morriss

THE consortium bidding to buy Mansfield Town FC issued an ultimatum to owner Keith Haslam on Wednesday night.
And the group of businessmen, headed by Stags chairman James Derry, vowed to walk away from their takeover plans if Mr Haslam does not make a decision on their final offer for the troubled football club by tomorrow (Thursday) lunchtime.

The dramatic developments in the protracted sale saga followed an unexpected statement from Mr Haslam on Wednesday afternoon, calling for more information and 'confirmation of adequate funding to secure the future of the club' from the consortium.

Mr Haslam added: "The consortium have put nothing in writing so it's difficult to fully assess the offer. It would not be responsible of me to decide without a full understanding of the offer and, most importantly, the certainty that the club will have the financial backing to survive and prosper." - full Haslam statement

But tonight (Wednesday) Mr Derry told Chad: "Keith has asked for certain information following our meeting last Monday, when we gave him our revised and final offer.

"We are surprised it has taken Keith (Haslam) 10 days to ask for this information.

"This could have been made available at the meeting, but we have now supplied it today.

"Certain things he asked for we are not prepared to give in on, as this was our final offer.

"We have now set a deadline of 12noon Thursday for a decision, after which we will withdraw our offer.

"This cannot keep dragging on. We asked for a decision by last Friday, but Keith said he wanted time to consider our offer. Now we must know by tomorrow or we will walk away."

Earlier this evening Chad tracked down Mr Haslam to ask him to expand on his statement calling for more information from the consortium - which first agreed a takeover deal at the beginning of October, but then reduced its offer after the process of due diligence uncovered a worse financial position at Field Mill than it first thought. It is known that the club has lost £250,000 a year over recent financial years and could potentially lose even more this year.

Mr Haslam said: "I have had nothing in writing. I want to know who the members of the consortium are, who I am dealing with, and if they have the wherewithal to take the football club forward.

"I have spent £40,000 on legal and associated fees doing work on this deal, of course I am serious. But they (the consortium) haven't incurred any cost."

But Mr Derry replied: "Keith has had personal guarantees from myself and one member of the consortium, John Thorpe, that we have the necessary money to complete the buyout. That should be sufficient. Other members of the group have asked to remain anonymous and I do not see why they should not do so.

"It is nonsense to say we haven't had a financial outlay, John Thorpe turned down thousands of pounds worth of work to carry out the due diligence, for instance.

"Keith has also had written confirmation of our bid, albeit via e-mail"

When asked if his statement was a delaying tactic to try to benefit from the Stags FA Cup run - including £75,000 from the BBC for the live screening of Sunday's tie at Harrogate Railway and a potential Third Round glamour tie with a Premiership club - Mr Haslam said: "We had agreed that all money coming into the club after 1st November would not be anything to do with me.

"But that was before the revised offer. Perhaps if I accept their (the consortium's) changes then this cut-off point needs to change too.

"But it is nonsense to say I have not made a decision because of the FA Cup.

"I do want to sell, but I need to be convinced that this is the right deal and that they (the consortium) have the money to take this club forward."

Mr Haslam also said that the fans should remember they have a part to play in the club's future and that 'if they attack me, they attack Mansfield Town'.

"Encouraging fans to keep out of the ground has in a perverse way hampered the deal.

"The people in the town must decide if they want a football club. People have got to show that they want one - fans, businesses, the council, everyone.

"If the town loses its football club it will lose its soul. If there is no League club then the town will not be on the map anymore.

"People have got to remember the state this club was in when I took over.

"All I am doing now is ensuring that it is in a position to carry on. I want the club to do well."

When asked about the money he owes the football club over the purchase of land at Skegby and the minority shareholders in MTFC, Mr Haslam added: "Skegby is part of the discussions we are having and will be dealt with.

"As for the shareholders, I would expect there to be an EGM or something like that."

And when asked what would happen if the consortium walked away or had its bid rejected, he told Chad: "There are other people I could go back to, other people still showing an interest."




The full article contains 900 words and appears in n/a newspaper.
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  • Last Updated: 03 December 2007 9:50 PM
  • Source: n/a
  • Location: Mansfield
 
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benji,

thailan 29/11/2007 00:41:36
this seems amazing as its been going on for weeks and now haslam says hes had nothing in writing? and dont know who hes dealing with
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