A BID to take over Gretna arrived just in time yesterday, but it remains to be seen whether it will be enough to save the club from extinction.
Administrator David Elliot had insisted he would be forced to pull the plug if no offers were rec
eived before today's 12pm deadline.
Following yesterday's last-ditch offer from a consortium fronted by Paul Davies, the Glasgow-based football consultant, Elliot will now be involved in further negotiations tomorrow. He has called the club's remaining staff to a meeting at Raydale Park on Monday morning, after which an announcement will be made to the media.
Ron McGregor, the Gretna chairman, confirmed that Davies had submitted an offer, but said he remains in the dark about the likelihood of its success.
"There has been some criticism of the administrator for holding press conferences without speaking directly to staff," he said. "But we have been told an announcement will be made at 11am on Monday." Elliot, who works for Wilson Field, was unavailable for comment yesterday, but a spokesperson for the Sheffield-based insolvency firm, said: "A statement will be made on Monday to say that either a suitable bid has been received, a bid has come in but is too low, or that the club will close."
Alternatively, of course, Elliot could delay a final decision pending further negotiations.
Davies, who works as a cosultant for football agent Scott Hume, head of Hume International, first contacted the administrator in March, and admitted then his interest stemmed from his father, Ken, who is Gretna's security chief. The last-minute nature of yesterday's offer appears to support the suggestion that his consortium has not been satisfied with the way discussions have gone so far.
McGregor concedes that yesterday's developments have opened up no more than a sliver of hope. "Having come this far I'm a little optimistic, but there are still many hurdles to go over." he said.
The first of those hurdles is the approval of the creditors' committee, made up of five parties – the SPL, Inland Revenue, and three local businessmen – owed money by the club.
Rowan Alexander and David Bingham, the club's former manager and player respectively, are also among those holding out for funds.
Gretna went into administration on 12 March after the managing director Brooks Mileson withdrew his financial support, and the club has few assets other than Raydale Park.
Even if the creditors can be persuaded to accept Davies's offer, there is no guarantee that the Scottish Football League will accept Gretna as members at its agm on 29 May following the team's relegation from the SPL. Dumfriesshire MP David Mundell held a meeting with SFL chief executive David Longmuir yesterday.
The full article contains 468 words and appears in The Scotsman newspaper.
