Hartlepool United Takeover

[Dave]

Hartlepool United have agreed a deal in principle with local businessman Raj Singh for the takeover of the troubled non-league club.

Singh and his consortium reached agreement with the National League club last night, and the agreement could be confirmed later today.

Singh - who is the former Chairman of fellow north-east side Darlington before they were liquidated in 2012 - is looking for further investment to join his consortium, which already includes Sky Sports' Jeff Stelling.

[Marc]

So pleased to see Hartlepool 'saved' if this goes through. Hopefully they can get some supporter involvement on the board. The fans are understandably very skeptical around Raj Singh. He was heavily involved in Darlington going out of business, beggars can't be chooses though he was the only option or face starting again.

 

Hartlepool Borough Council have stepped in and paid last months wages - for the second time in four months.

[Smiley Culture]

A bloke who was the owner before Darlington were liquidated, what a wonderful prospect that sounds. I reckon I’d feel weird if I was a Hartlepool fan, the immediate future may be secure but what about a bit longer term? 

[Marc]

They are worried, but Stelling is also involved in the takeover so the idea seems to be that they trust Jeff would do everything in the best interest of the club and that they have no other options anyway except liquidation. They have a 3 year plan to get the club running to their means, and as part of the takeover enough funds were raised to last the 3 years, i believe.

The club is being sold for £1 and staggered payments over something like 10 years, with additional payments if promotions are achieved etc. Craig Hignett is also part of the regime and is expected to be director of football or manager. They've still got a lot of work to do to avoid relegation, they would get relegated to a very strong conference north as well - Salford, Stockport, Darlo, York etc in there this season.

My father in law in a die hard Hartlepool fan so i've been to Pools games and follow their progress.

[Dave]

Teeside businessman Raj Singh and Sky Sports’ Jeff Stelling are set to complete their takeover of Hartlepool United in the next 24 hours.

Singh and Stelling will finally complete their protracted purchase for £1, before then ploughing in £1.2m generated by their consortium.

Final paperwork is being completed and the takeover could be announced later on Wednesday.

[Dave]

The takeover has been completed. Fingers crossed they can survive this season and push themselves back in to the 72 over the next couple of seasons.

[Rick]

For a quid I'd of had a punt on that like.