Football clubs in financial trouble - Discussion Thread

[MenInG]

England women's manager Phil Neville says the heart of Bury has been "ripped out" by their expulsion from the English Football League.

The League One club lost their place in the EFL on Tuesday when a takeover by C&N Sporting Risk fell through.

Bury-born Neville's mother Jill last week resigned as club secretary, while his late father Neville was a director.

"I'm devastated," said Neville. "It's disgraceful. Bury, after 125 years, no longer has a football club."

He added: "I find it difficult. I dread to think how my mum's feeling.

"I've obviously been living it as my mum's been secretary for 31 years. She resigned last week but still worked every hour that God sent to do the right thing for the football club.

"The heart of the town has been ripped apart. Now it's up to the Bury people - myself included - to try to put some heart back into a town that relied heavily on a football club."

The businessmen who pulled out of a plan to take over Bury said they could not overcome the financial problems the club was facing.

With the Shakers now expelled from the EFL, they will not be able to play again until next season at the earliest - and then it will be at a non-league level.

Neville's siblings, former England defender Gary and ex-England netball coach Tracey, have both responded to criticism from supporters via social media that they did not step in to help the club.

Fans say Bury is a 'club, not a team' and a place to escape to 'something different'
Both Gary and Phil are part-owners of League Two side Salford City, meaning they were unable to offer any financial support under Football Association rules.

"It's ripped the heart out of our town, out of our club and out of my mum and the family," added Phil.

"There's a stand named after my dad who worked for the club for 26 years - my nanna, my grandad, my auntie, my uncle all worked behind the scenes and me and my brother supported the club.

"Every town needs a football club. It's emotional for me. My mum's given her heart and soul to that club, my dad - it nearly killed him at one point.

"It's difficult because I'm part-owner of another football club so we couldn't do anything about it. It doesn't mean you don't care. It's like a death in the town of Bury.

"We've probably given Salford an identity; they've got a league club. Bury haven't got a league club any more."

https://www.bbc.com/sport/football/49495920

 

[MenInG]

Staff at Bolton have been told that plans for the club's liquidation have been put on hold while administrators attempt to finalise a takeover.

The English Football League has given Wanderers 14 days to find a buyer or prove their financial viability.

A deal struck with Football Ventures (Whites) Limited to buy the League One side, in administration since May, appeared to have collapsed on Saturday.

Bolton's administrators have warned they are on the brink of liquidation.

In a statement issued on Monday, they said if they were unable to resurrect the move the club was "not in a position to carry on trading" and was set to enter liquidation, leading to the "inevitable loss of over 150 jobs".

But staff have now been told that any plans that may have been made for the club's closure are now on hold, providing hope a takeover may be nearing completion.

'For Bolton to no longer exist is unthinkable' - what next for Wanderers?
After the EFL issued Wanderers with the 14-day deadline on Tuesday, Bolton's administrators said: "All parties have been in continuous dialogue throughout the day (Tuesday) and are working closely together this evening in order to bring a deal to completion.

"We will continue to work through the night if necessary. There will be a further update as soon as possible."

Wanderers have lost four of their five League One and cup games this season, are without a manager and have only five senior outfield players available.

One fixture, against Doncaster, was postponed by the club because of concerns over the welfare of youth-team players.

Bury were expelled from the EFL on Tuesday after their takeover collapsed.

https://www.bbc.com/sport/football/49496968

 

[The Viper]

Bolton Wanderers: Football Ventures completes takeover to save League One club

Bolton Wanderers' survival has been secured after Football Ventures (Whites) Limited completed its protracted takeover of the club.

Administrators had warned that the club could be placed into liquidation on Wednesday without a finalised takeover.

It looked to have collapsed on Monday, leading to bleak warnings about the future of the 145-year-old club.

https://www.bbc.co.uk/sport/football/48906359

 

[PakLFC]

This is why some "big clubs" playing in the Europa League this season have to watch their spending. No, they can't afford to sign Dybala or his likes even in their dreams To be in the clear now clubs need to be winning things or keep their spending as low as possible.

 

[MenInG]

The English Football League is to discuss Bury's future with its member clubs following efforts to reinstate the Shakers in League Two next season.

Bury were expelled from the EFL on 27 August after a failed takeover bid by C&N Sporting Risk.

Bury North MP James Frith has called for the Shakers to re-enter in the fourth tier for the 2020-21 season.

Meanwhile, Greater Manchester Police has said it is investigating an allegation of fraud involving the club.

No arrests have been made and inquiries are ongoing.

In a statement, the EFL said the "only current established procedure" for entry to League Two is promotion through the National League.

However, it added that "in acknowledgement of the extreme nature of the problems" at Bury, the EFL board had "agreed it is appropriate to discuss the matter with member clubs" and those talks will take place in the coming weeks.

The statement concluded: "Prior to formal consideration by any league competition of an eventual application from Bury FC to return to league football, clear evidence would be required of the club's financial viability and its ability to fulfil its ongoing commitments."

At present, application for re-entry into the English league system must be submitted to the Football Association, which would then determine which division the club will play in.

Mr Frith is planning to put forward a proposal to the EFL, supported by Mayor of Manchester Andy Burnham, by 20 September.

Bury's expulsion from League One means that three clubs, rather than four, will be relegated from the third tier this season and just one, instead of two, will go down from League Two.

In response to the combined efforts of supporters' groups, local authorities and politicians, the EFL clarified there is "no precedent for a club to enter the EFL directly through an application for admission or readmission following withdrawal of membership".

Timeline: Bury's EFL demise
30 July: EFL suspends club's first game of the season asks them to prove financial viability
9 Aug: Bury are given until 23:59 on 23 August to provide "clarity required" as third game is called off
20 Aug: Sixth Shakers game suspended, while owner Steve Dale rejects offer to buy club
23 Aug: Bury granted extension until 17:00 on 27 August in light of bid from C&N Sporting Risk
27 Aug: EFL expel Bury after C&N Sporting Risk withdraws interest
29 Aug: Bury claim EFL will not rescind expulsion, despite the club revealing a further £7m takeover bid
30 Aug: Bury write to EFL as club "actively considers" legal action
2 Sep: Bury North MP reveals plan to submit a proposal to the EFL by 20 September in a bid to have Bury reinstated to League Two in 2020-21

https://www.bbc.com/sport/football/49569697

 

[MenInG]

A fraud investigation has been launched involving Bury Football Club, police have confirmed.

Greater Manchester Police (GMP) said it received a report of fraud on 18 June and inquiries were ongoing but no arrests had been made.

The club were expelled from the English Football League (EFL) on 27 August after a late takeover bid from C&N Sporting Risk failed.

Bury were the first club to drop out of the league since Maidstone in 1992.

The Greater Manchester club were members of the EFL for 125 years.

The allegation of fraud was made to GMP exactly one month before current owner Steve Dale reached a Company Voluntary Arrangement to repay the club's creditors 25% of the £9m they owed.

However, the arrangement was dependant on the Shakers being able to play their fixtures this season.

The club were also handed a 12-point penalty by the EFL for entering into an insolvency agreement.

The EFL was not satisfied Bury had provided sufficient evidence of their financial viability, so it postponed a string of the club's fixtures while it awaited "the clarity required".

The club were given a deadline to complete a sale but after the bid collapsed, they were expelled from the league.

Timeline: Bury's EFL demise
30 July: EFL suspends club's first game of the season asks them to prove financial viability
9 Aug: Bury are given until 23:59 on 23 August to provide "clarity required" as third game is called off
20 Aug: Sixth Shakers game suspended, while owner Steve Dale rejects offer to buy club
23 Aug: Bury granted extension until 17:00 on 27 August in light of bid from C&N Sporting Risk
27 Aug: EFL expel Bury after C&N Sporting Risk withdraws interest
29 Aug: Bury claim EFL will not rescind expulsion, despite the club revealing a further £7m takeover bid
30 Aug: Bury write to EFL as club "actively considers" legal action
2 Sept: Bury North MP reveals plan to submit a proposal to the EFL by 20 September in a bid to have Bury reinstated to League Two in 2020-21

https://www.bbc.com/news/uk-england-manchester-49568307

 

[The Viper]

Bury FC say 'the truth will prevail' after English Football League exit

"Steps are being taken to address the recent wrongdoings to our club, the truth will prevail," the expelled side say in a statement

Bury have provided an update to supporters regarding their hopes of reinstatement, asserting that the club is not "dead as some are asserting and will again be playing football".

The Gigg Lane side's EFL membership was withdrawn in August after their owner Steve Dale was unable to provide financial sustainability guarantees.

A bid to have the club reinstated in Sky Bet League Two for the start of next season was rejected by the 71 members of the EFL after clubs met on September 26.

Bury were left almost facing liquidation earlier in October after a prospective buyer ended their interest in purchasing them, but were given a two-week reprieve after a judge adjourned a bid to wind up the club.

Chichester City were recently handed a bye into the second round of the FA Cup due to Bury's absence, but the non-league side announced that they would send a donation to the "organisation involved in the continuation" of the club.

In a statement, Bury said: "The club would like to make clear the following and quash any rumours: Bury Football Club is not dead as some are asserting and will again be playing football.

"Steps are being taken to address the recent wrongdoings to our club, the truth will prevail. Our pitches at Gigg and Carrington are in first-class order ready for next season, work will start on our stadium once the Day/Loan situation is resolved.

"The legal cases against people are ongoing but looking very positive, alas not as quickly as we would like.

"The winding-up order should never have been issued and would have been dismissed on the day but unfortunately, HMRC had not finalised processing the returns and an adjournment was granted to accommodate this, it will be dismissed this week coming.

"The press made the above sound like others were involved, it was a quick court hearing and lasted minutes - no other party influenced the case or made a claim.

"Our club has no affiliation with these alleged Phoenix/Start-ups.

"The club can also confirm it has never been involved or been consulted in recent fundraising allegedly for our club or indeed has it benefitted from any fundraising by Forever Bury or any other entity, we are unsure where these proceeds go but it isn't to help Bury Football Club, so please be advised if that is what you thought."

https://www.skysports.com/football/...ll-prevail-after-english-football-league-exit

 

[MenInG]

Premier League Burnley could run out of money by August if the season does not resume by then, club chairman Mike Garlick said on Saturday, three weeks after the COVID-19 pandemic forced a suspension.

In a statement on their website Burnley said they stood to lose up to 50 million pounds ($61.30 million) in revenue if the Premier League was not completed.

On Friday the Premier League said the current campaign had been postponed indefinitely and would only resume when it is "safe and appropriate to do so".

"The fact of the matter is if we don't finish this season and there isn't a clear start date for next season we as a club will run out of money by August, that's a fact," Garlick told Sky Sports. "I can't speak for other clubs.

"That's why we are very, very determined that when it's safe to do so we really do want to finish this season

"Finishing the season is the only real outcome for all the Premier League clubs."

Burnley expect to lose five million pounds in match-day revenue as their remaining home games will likely be played behind closed doors should the league resume.

In addition, if the season is cancelled altogether, the club will miss out on 45 million pounds in "broadcasting revenue and other items", Burnley said in a statement.

"It's a completely unprecedented situation that we and other Premier League clubs face and which we could not have foreseen in any way only just a few weeks ago," Garlick said.

"It's now not just about Burnley or any other individual club anymore, it's about the whole football ecosystem from the Premier League downwards and all the other businesses and communities that feed from that ecosystem."

Burnley said they were releasing the figures to be "transparent with supporters, staff and stakeholders".

The country's soccer authorities were in talks on Saturday to discuss a proposed 30% reduction in players' wages.

https://www.indiatoday.in/sports/fo...-premier-league-suspension-1663391-2020-04-04

 

[MenInG]

Wigan Athletic have become the first professional club in England to fall into administration during the Covid-19 crisis, only four weeks after a Hong Kong-based consortium took over the Championship club, promising to secure its future.

As recently as 24 June, a businessman based in Hong Kong, Wai Kay Au Yeung, who had initially been a minority shareholder in the consortium, Next Leader Fund (NLF), was registered as the owner of more than 75% of the club’s holding company.

The club stated on 4 June that under the EFL’s owners’ and directors’ test, the league had approved the sale to NLF by the owners since November 2018, International Entertainment Corporation (IEC), another Hong Kong-based, Cayman Islands-registered company, which owns a hotel and casino in the Philippines.

The EFL’s test and takeover process involves determining that a new owner has the money to buy a club and support it financially for at least the remainder of the season and the whole of the following season. However less than a month later and a week since Au Yeung was announced as the majority owner, the club has appointed the administrators Gerald Krasner and Paul Stanley, of insolvency practitioners Begbies Traynor.

In a statement, Krasner said: “Our immediate objectives are to ensure the club completes all its fixtures this season and to urgently find interested parties to save Wigan Athletic FC and the jobs of the people who work for the club.

“Obviously the suspension of the Championship season due to Covid-19 has had a significant impact on the recent fortunes of the club. Wigan Athletic has been a focal point and source of pride for the town since 1932 and anyone who is interested in buying this historic sporting institution should contact the joint administrators.”

Krasner told the Guardian he was still gathering full information about the club’s financial position and the cause of its collapse into administration, having only been approached about the appointment last week.

IEC bought Wigan from the sports and retail magnate Dave Whelan for £15.9m, but despite winning promotion from League One last season, the company said it was dissatisfied with the loss-making finances of the Championship and the UK’s uncertain economic prospects after Brexit. IEC sold to Au Yeung’s consortium for £17.5m, plus repayment of £24.36m the company had invested in the club.

In a Hong Kong stock exchange document setting out its reasons for selling, IEC cited the “unsatisfactory financial performance” of the club, due to the punishing economics of the Championship, and also mentioned the suspension of football because of the coronavirus pandemic and the impact of Brexit. It said Brexit “could have material long-term impact on the economy and the future growth of the UK which may damage investors’ confidence on the UK and also reduce local consumer spending, which could further deteriorate the performance of the [club]”.

Since buying the club the company said it sustained increases in players wages to £17.5m, from £10m in 2017-18, and sustained a £9m loss for the 13 months to 30 June last year. Wigan moved up to 14th in the Championshipafter Tuesday’s 3-0 victory over Stoke.

Initially NLF was majority owned by the same majority owner of IEC, Dr Choi Chiu Fai Stanley, with Au Yeung as a minority shareholder until Au Yeung was announced as the owner of more than 75%. He was described at the time of the takeover as having “relevant experience in business operations management and business leadership as he has worked in commodity and real estate investment management in Asia”.

Whelan, the former Blackburn Rovers player who made his corporate fortune with his retail empire JJB Sports, bought Wigan, his local club, in 1995, building a new stadium and funding a rise from League Two to eight years in the Premier League, before relegation in 2013 and the decision to sell five years later. The chairman in 2018, his grandson David Sharpe, said at the time of selling to IEC that they were “a suitable owner with the funds and ambition to carry on the family legacy.”

https://www.theguardian.com/footbal...istration-four-weeks-after-hong-kong-takeover

 

[MenInG]

Wigan will be handed a 12-point penalty by the EFL after the club announced they had entered administration.

The timing of the Latics' points deduction is currently unclear, with the league saying it can only be decided once the final Championship table is determined.

If the club are relegated by on-field results, the sanction will be applied in League One next season. If the club stay outside of the bottom three, the sanction will be applied to the 2019-20 table.

Wigan are currently 14th in the Championship and eight points clear of the relegation places. If the sanction were applied currently, they would drop to the bottom of the table.

In a statement, the EFL said: "The EFL is awaiting formal notification from the administrators and once the league has received this it will commence discussions with the relevant individuals with the aim of achieving a long-term future for the club."

Paul Stanley, Gerald Krasner and Dean Watson from Begbies Taylor have been appointed as joint administrators of the club.

Krasner said the coronavirus pandemic has had a detrimental impact on Wigan's finances, adding: "Our immediate objectives are to ensure the club completes all its fixtures this season and to urgently find interested parties to save Wigan Athletic FC and the jobs of the people who work for the club.

"Obviously the suspension of the Championship season due to Covid-19 has had a significant impact on the recent fortunes of the club.

"Wigan Athletic has been a focal point and source of pride for the town since 1932 and anyone who is interested in buying this historic sporting institution should contact the joint administrators directly."

The Latics were in the Premier League as recently as 2013, and won the FA Cup for the first time in their history in the same year.

They recorded a net loss of £9.2m in their most recent annual accounts, for the year ending June 30, 2019.

The club were owned by JJB Sports co-founder Dave Whelan until November 2018, when he and his family sold to the Hong Kong-based International Entertainment Corporation (IEC).

There was a further change of ownership on May 29 of this year, when IEC divested its ownership to Next Leader Fund.

IEC said in a letter to fans its decision came "after thorough assessment of several factors including the club's financial position, management team and objectives, particularly the promotion to the Premier League".

The letter added: "There are areas of misalignment in expectations which we feel may hinder our partnership going forward.

"Combining with the outbreak of the Covid-19 has created more uncertainty around the financial position of the EFL and the football business as a whole."

https://www.skysports.com/football/...inistration-efl-to-hand-club-12-point-penalty

 

[MenInG]

English football has been "disrespected" by the "tremendous shock" of Wigan going into administration, says EFL chairman Rick Parry.

The future seemed bright for the Championship club when they changed Hong Kong-based owners a month ago, but last week's revelation of their financial predicament has resulted in a 12-point deduction, which has yet to be officially applied.

The administrators have said the club have appealed against their punishment, but if upheld, it could see them relegated.

New owners Next Leader Fund said they invested "more than £40m" into the club and blamed the coronavirus pandemic for the decision to put it into administration.

In an interview with BBC sports editor Dan Roan, Parry expressed his surprise at what has happened at the Latics.

The former Liverpool and Premier League chief executive also discussed the English Football League's owners' test and said the governing body "will get to the bottom" of why the club is now in this position.

Dan Roan: How surprised were you?

Rick Parry: "It was a tremendous shock - a bolt from the blue.

"Normally if a club is facing administration you get warning signs. Generally they don't pay HMRC, they don't pay the players, there are problems with creditors and it happens gradually.

"It is really unprecedented for an owner [Au Yeung Wai Kay, the head of Next Leader Fund that took ownership] to put his own club into administration, literally overnight. It is completely unprecedented for an owner who has only just acquired the club for £40m to put his prized asset straight into administration and therefore destroy its value to him.

"It makes absolutely no sense to us - it's a real mystery, I've never seen anything quite like it."

Roan: Does the EFL need to take some responsibility?

Parry: "He passed the tests. You can criticise them and say they need to be beefed up, but he did pass the test. He wasn't a complete newcomer because there had been a transition from the previous owner, who had been there two years.

"The previous owner had been putting something like £24m in, and had secured Wigan in the Championship. He introduced the new owner, there had been partnerships, it had evolved. This isn't somebody who appeared from nowhere.

"Our test, bluntly, is limited, it's an objective test, there are limited grounds to turn down an owner. It is a test that, by definition, the more foreign owners you have the more difficult it is to apply because of the amount of information that is available."

Roan: Was the EFL lax in the application of the rules?

Parry: "No - he passed the test, albeit it self-certifications and he provided the assurances. What none of our rules can legislate for is an owner changing his mind."

Roan: Does this all show that the ownership rules need to be tightened?

Parry: "It's no use just talking about owners' and directors' tests as if that is going to solve all of the problems. You really need to go back to why did we end up with Chinese owners in the lower reaches of the Championship in the first place?

"Why can we not have community owned, sustainable clubs? That goes for all the structural issues that I have been telling anybody who will listen, and most people who won't listen, for the past x number of months, from the select committee onwards.

"The Championship is a financial nonsense. We've got clubs spending 107% of their income on wages, we've got the major distortion of parachute payments, we've got £400m of owner-funding required - £16m per Championship club. There are owners gambling on getting into the Premier League, it's unsustainable.

"We need to make our clubs sustainable - we shouldn't be relying on random foreign owners."

Roan: Is coronavirus a plausible excuse?

Parry: "If he said it in February, then it would be plausible. What I don't get is given we are coming out of the crisis and heading towards playing again, why would you buy a club in June and then put it in administration at the end of the crisis? That's the bit that doesn't quite stack up."

Roan: Do you have sympathy for staff members who have lost their jobs?

Parry: "Enormous sympathy. I have sympathy for the town, sympathy for the supporters - we know how it feels.

"It is so horrible for them because they must have been feeling relatively optimistic."

Roan: How confident are you the EFL investigation will get to the bottom of what has gone on here?

Parry: "We want to and we are determined to. How confident can you be when it is thousands of miles away with limited jurisdiction? It will be challenging.

"We want to try to get to the bottom of this because, on the face of it, the Wigan staff, the fans, the players, the town... English football has been treated with disrespect in this.

"This is something completely out of the ordinary."

Roan: How much veracity do you give about the rumour someone bet on Wigan going down?

Since it was announced that the club had entered administration, various rumours have surfaced - including one Parry recounted to a fan while being secretly filmed - that Wigan had been the subject of a bet to get relegated.

Parry: "Almost none. It's highly unlikely because while the betting market in the Philippines is not the most tightly regulated, they are run by some extremely smart people.

"The likelihood that a Philippines bookmaker would take a substantial bet on a club to be relegated is almost nil. It is not going to happen - it is very implausible."

Roan: Do you regret speaking to this fan?

Parry: "If you say I shouldn't speak to football fans, or engage, I don't think I'm going to change that style.

"Do I regret somebody being deceitful and filming without my permission, frankly, yes. Taking a comment out of context? Frankly, Yes.

"We had a 10 minute conversation on the EFL rules, the state of the club. That was a throwaway line right at the end of the conversation in the context of, 'This is so odd isn't it? Why on earth can this have happened?'."

https://www.bbc.co.uk/sport/football/53341269

 

[The Viper]

Wigan Athletic: Preferred bidder chosen, says administrator Gerald Krasner

A preferred buyer for Championship club Wigan Athletic has been chosen, says administrator Gerald Krasner.

The Latics were placed in administration on 1 July when the new Hong Kong-based owners conceded they could not support the club financially.

Krasner said the bidder has until 12:00 BST on Thursday to sign a letter confirming their lawyers are holding the entire funds.

He added that contracts have to be exchanged by 31 July.

Wigan were deducted 12 points as punishment for going into administration. Krasner says the appeal against that decision is set for 31 July, adding it will cost between £400,000 and £500,000 because the club must also pay the English Football League's fees.

The deduction has not yet been applied to the Championship table, which shows the Lancashire side 10 points above the relegation zone going into Wednesday's final fixture at home against Fulham (19:30 BST kick-off).

Of 64 non-disclosure agreements sent out at the beginning of July, Krasner says he received "six proof of funds and five offers".

He added that "the bids were all similar bar one" and that "the decision took into account how much was being offered and the ability to meet certain criteria".

Earlier in July, Wigan Warriors rugby league club expressed their interest in buying the Latics.

Speaking before what he called Wigan's "biggest match of the season", Krasner confirmed he had already sold one player to pay outstanding wages until June and that another two players were likely to be sold by the end of the week.

He said owner Au Yeung Wai Kay had agreed to speak to him to explain why Wigan were put into administration just weeks after he took control at the end of May.

"We are not out of the woods yet," said Krasner, adding that he was "optimistic" the club would pay outstanding creditors enough to avoid a 15-point deduction next season.

https://www.bbc.co.uk/sport/football/53498844

 

[MenInG]

Hollywood stars Ryan Reynolds and Rob McElhenney are interested in investing in Wrexham, the club have announced.

Deadpool and Detective Pikachu star Reynolds and It's Always Sunny in Philadelphia's McElhenney will share their vision for the club with members at a special general meeting (SGM)

The fan-owned club's members have voted overwhelmingly for talks to proceed.

Any potential takeover could lead to £2m being invested in the club, which has been in fan ownership since 2011.

A total of 1,223 Wrexham Supporters Trust members - over 95% of those asked - voted for the move and 31 against at a special general meeting on Tuesday.

Ryan Reynolds sent this tweet an hour after the news broke

Trust director Spencer Harris, who expects a further vote from fans on the outline of the deal "in weeks rather than months", told BBC Radio Wales Breakfast the deal is in its early stages, but he has known the identity of the would-be backers for some time.

"We've known for a little while, but we wanted to come as early as we could in the process to involve supporters," Harris told the programme.

"As everybody knows we are community owned and therefore this has become public knowledge a little bit earlier than it would in any other normal circumstance, but yeah it's out there now so people know all about it.

"We started talking through representatives of theirs, talking about the club, and we're now in a position where we are able, following the SGM on Tuesday night, to get into detailed discussions about what a takeover deal could look like.

"There is some way to go and at the end of the day it will be the supporters who decide what the future direction of the club will be."

Mr Reynolds, who was among the world's highest paid actors this year after appearing in the Netflix films 6 Underground and Red Notice, has been a shareholder in Aviation American Gin since 2018.

In August 2020 drinks giant Diageo bought Aviation American, along with three other spirits, as part of a $610m (£460m) deal.

Harris has been impressed by their enthusiasm and approach to a possible takeover of the National League club.

"I've spoken to both of them several times," Harris explained.

"They are very serious, professional and successful people, not just as actors but in the business world as well and this is a very serious endeavour for them and they'll set out their vision in due course, but I know they are very passionate about this and have gone into a lot of depth to understand about the football club."

So far it is unclear why the Hollywood 'A-listers' are interested in a fifth-tier UK football club in north Wales.

"I think that's a question for them in good time," said Harris.

"I would answer 'why not?', because for us as Wrexham fans we are the third oldest professional team in the world, the oldest in Wales and play at the oldest international stadium anywhere in the world.

"We are a team with a proud history that's beaten Porto in the European Cup Winners Cup and there's lot's of potential at the club, so why not?"

"But... I don't want to get in front of them setting out their vision for the club which they will do in due course."

Approval from members for a deal would see the Trust relinquish control of running the club.

"It's very exciting news for a lot of people, but supporters will make a decision on whether this goes forward or not," explained Harris.

"Of course I would imagine we would see them at the Racecourse and we may have done already had it not been for Covid-19.

"It's a difficult time for all of football, not just at our level, even clubs at Premier League level are taking significant loans from government.

"We are in a relatively decent position versus many so there's no particular burning platform at the football club as we speak right now, however investment into any football club, especially at this level, does make quite some difference and obviously these are very serious professionals, successful people who I'm sure would have a lot to bring to any business."

It would not be the first time Hollywood stars have become involved with a Welsh club, with US star of The Office Mindy Kaling revealed as being among the stakeholders in an American consortium that purchased a controlling stake in Swansea City in 2016.

 

[MenInG]

Ole Gunnar Solskjaer was also asked about the coronavirus pandemic and the prospect of games being played behind closed doors for the foreseeable future.

"The situation we are in makes it so difficult to predict what is going to happen," he said.

"The rate is going up. I am worried for League One and League Two, of course we are, but all the Premier League teams are losing money.

"Hopefully we don’t lose too many clubs. Locally we have seen clubs struggle. It is not a nice situation to be in."

 

[MenInG]

Burnley are on the verge of being taken over in a deal worth around £200m by Egyptian businessman Mohamed El Kashashy.

 

[MenInG]

Derby County owner Mel Morris has agreed a deal in principle to sell the Championship club to Derventio Holdings (UK) Limited.

Abu Dhabi-based Sheikh Khaled bin Zayed Al Nehayan, a cousin of Manchester City owner Sheikh Mansour, effectively owns the controlling stake in Derventio.

The Rams say Derventio has passed the English Football League's owners' and directors' test.

https://www.bbc.com/sport/football/54841095

 

[Gabbar Singh]

There are so many problems with the way English football is run - the ownership structures, the way money is distributed, the sheer number of professional clubs etc. They should look towards Germany and adopt some of their methods - for example, members/fans must own 51% of any team and commercial interests can't gain majority control of a club. This then leads to lower ticket prices etc.

 

[MenInG]

Hollywood stars Ryan Reynolds and Rob McElhenney are poised to buy Welsh football club Wrexham AFC after fans approved their bid.

Supporters have voted overwhelmingly to support a takeover by the Deadpool actor and McElhenney, who stars in US sitcom It's Always Sunny In Philadelphia.

In September, Ryan Reynolds was revealed as a potential investor in the fan-owned club, which currently plays in the National League - English football's fifth tier.

Fans voted to pass three motions, with an overwhelming 98% agreeing to allow the pair to take "100%" control of the club.

A statement from Wrexham Supporters Trust Board said: "Members have voted FOR all three resolutions.