Tonbridge Angels block £500k mystery takeover bid

Speculation has been rife in recent days that an unnamed Kent businessman was willing to invest “over half a million pounds” into the Ryman Premier League club and to develop Longmead Stadium and plough £20,000 into the playing budget for the remainder of this season.

But in a club statement, issued to www.kentishfootball.co.uk this lunchtime, Mr Cole insisted that the club has not received any concrete plans.

"I can confirm that the club has been approached by a group of people with a verbal offer and proposal to carry out development work at Longmead Stadium,” said Mr Cole.

“Subsequently since the original verbal offer was received the group have now apparently offered to invest a sum of money into this seasons playing budget.
 
“However, the club have never received a formal written offer or business plan from this group. Without the written agreement being put in place or a view from the Local Authority on their proposal and plans being accepted, the Board of Directors and shareholders of Tonbridge Angels FC are in agreement that it was not in the clubs best interests to proceed with this proposed redevelopment.
 
“The Board of Directors and shareholders confirm that there are more than happy to receive proposals of this type to take the club forward, but in this case felt that the lack of formal written business plans and financial agreement or proof of funds was a major block to the plan proceeding".

Details of the investors alleged proposals were posted onto the club’s unofficial fan’s forum, under the headline “YES there is a potential investor.”

Posted by “Florida Angel,” it is claimed that, “The investor is a Kent businessman, a very wealthy successful businessman who is willing to invest over half a million pounds.

“This would involve redeveloping the ground and providing new playing and associated facilities.

“He is also willing, as a gesture of his commitment to maintaining the club, preparing to put £20,000 into the playing budget immediately and for the benefit of the current management team.

“This guy is a very high powered person who generally deals in millions and makes and expects quick decisive decisions.  If this deal falls through then he has already targeted another club to be involved with."

One source also claimed that the businessman is worth £50m.

Manager Tommy Warrilow has been forced to release a number of players during the course of the season to balance the books, following the decision of former chairman Nick Sullivan and vice-chairman Garry Pass to step down at the end of last season.

Central defender Leon Legge was sold to Brentford for an undisclosed transfer fee before the season started, and striker Carl Rook packed his bags for Ryman Premier League leaders Dartford (again for an undisclosed transfer fee) last month.

Right-sided midfielder, Steve Ferguson was allowed to join Blue Square South side Bromley for a free-transfer last month, and others have departed too.

Warrilow met with chairman Steve Churcher, following the club’s 4-1 home defeat to Dartford on Saturday, a result that leaves the club one place above the relegation zone after 26 games.

“These are good times and bad times and they’re here to test you, it’s another side of managing,” Warrilow told www.kentishfootball.co.uk before the meeting.

“I’ve always said from day one, we haven’t got the biggest squad in the world, but the last month or so it’s depleted in numbers, when you’ve got Scott Gooding out probably for the rest of the season.

“We haven’t got the resources to bring a replacement in.  We’re going to have another chat now to see what’s going to happen, regarding the budget again.

“It’s about the club staying financially secured.  If we’ve got to (cut the budget) we’ve got to. 

“I’m not going to walk away from it.  I’ve said to the chairman I’m here for the fight and we’ll sit down and speak about things at the end of the season.”

Warrilow added: “This time last year it was all rosy in the garden, but unfortunately because of the ill-health of one chairman (Garry Pass), you can’t moan about it, the fella’s had a heart attack and he’s got to put that first, and the goal-posts have changed.”

Visit Tonbridge Angels' websites:  www.tonbridgeangels.co.uk  & www.tonbridgefc.co.uk/forum

AFC Hornchurch  v  Tonbridge Angels
Ryman Premier League
Tuesday 16th February 2010
Kick Off 7:45pm
At The Stadium, Bridge Avenue, Upminster, Essex RM14 2LX