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Football Ventures given preferred bid status

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WANDERERS have confirmed the Football Ventures (Whites) Limited consortium as their preferred bidder for the acquisition of the club.
As expected, the four-strong group led by Sharon Brittan has been given the go-ahead to complete the deal, potentially by the end of this week.

The announcement also casts doubt on the chances of a consortium involving ex-Watford owner Laurence Bassini gaining control of the club – although the 49-year-old claims he will gain a High Court injunction, if necessary, to halt the Football Ventures bid.

Paul Appleton of administrators David Rubin and Partners told the club website that all parties were given an equal chance to make a bid, with ‘full and final’ offers required by June 12.

"We undertook a comprehensive bidding process where all interested parties were given an opportunity to make their best and final offer for the club,” he said.
"Football Ventures made the highest offer by a substantial margin and were also able to show absolute proof and source of funding to match the requirements of the process. They were also able to show the viability of a minimum two-year business plan for the club which was of the utmost importance.

"With the Heads of Terms agreement signed, we now moved towards a Sales and Purchase Agreement and the completion of the deal."

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