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TMCNet:  Hereford back in danger as deal collapses [Western Daily Press (UK)]

[January 18, 2014]

Hereford back in danger as deal collapses [Western Daily Press (UK)]

(Western Daily Press (UK) Via Acquire Media NewsEdge) Hereford United's long-term future remains in the balance after a proposed six-figure deal with an un-named telecommunications company collapsed. Following the collapse of the deal Hereford chairman David Keyte issued a statement confirming the club faces a winding up order on January 27 for failing to settle a tax bill of Pounds 36,500.


Keyte also admitted that Herefordshire Council are holding back on signing the new leases which had been agreed for the long-term future at Edgar Street.

He has also stated that he and his board of directors would stand aside if a new investor came along to save the 80- year old club.

"We've been in several discussions with stake holders, including the council, in an attempt to resolve matters prior to January 27," said Keyte. "We have also sought the advice of an administrator should the worse scenario be necessary, however, I would stress that remains our last resort. "To lose the telecom deal at the last hour is a massive blow to the club, but it is absolutely the correct conclusion when we consider the long-term future of the stadium and future proposed developments. "The council solicitors and our own solicitors were in total agreement on this.

"We, therefore, continue to search for a new investor, whether that is someone to come alongside the current board, or even replace the current board." Manager Martin Foyle is also having to contend with a transfer embargo.

(c) 2014 ProQuest Information and Learning Company; All Rights Reserved.

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