Hartlepool United Supporters’ Trust – Statement from the Consortium
We were very disappointed to read Mr Singh’s statement today and, although there is a lot we could comment on, at this stage we would like to focus what we see as the most important points.
We have already made Mr Singh two serious offers and have the funds, and just as importantly ideas, needed to build a far better future for Hartlepool United.
Any suggestion that we lack these funds is simply wrong. One of our members is a major international investment company with impressive, socially conscious projects under development in the North East. They approached the consortium as they wanted to be part of a partnership that can help to drive the club and town forward and showed us proof of £14 million which was available for investment. After discussions, the investment company said that they were confident of the ability of the existing consortium members to drive our club forward and joined.
At this stage the other members of the consortium had already deposited close to £600,000 in a solicitor’s account. This money has remained there throughout negotiations.
We did not give Mr Singh a detailed business plan because we did not receive detailed enough accounts from him to be able to prepare one. We believed, and still believe, that a basic deal and detailed accounts are needed before proper planning can take place and made Mr Singh fully aware of this.
The only serious obstacle to this deal has been Mr Singh’s inflated idea of the value of a club which is incurring serious losses and carrying substantial debt. We’re extremely disappointed with this outcome. We were hoping to unite the supporters, the club and the town in a rise we could all share, enjoy and benefit from.
Never say die!
The members of the HUST Consortium.