Following Saturday’s communication with supporters, the Club would like to provide a further update and clarity regarding takeover progress and planning for next season.

The Club was disappointed to see some comments made openly on social media by an individual that the media connected to a takeover party.

The Club has been mindful throughout all takeover communications to maintain anonymous discretion for all parties and to be respectful of confidentiality agreements, whilst still trying to update supporters. The Club’s update on Saturday was factual and written with sensitivities in mind.

The Club has also tried to avoid creating heightened speculation in public domains as it greatly affects operations, supporters, stakeholders and ultimately the staff and players with livelihoods who are at the centre of this. However, it must now address some speculation for clarity with facts and act accordingly to ensure the immediate future.

Again, the Club would like to reiterate that it has been proactively working with all credible parties including through due diligence, in the aim of securing a positive takeover and future investment. This will continue in any scenario.

Since Saturday there has been a further revised deadline missed by one potential takeover party. This party had their original proposal and offer accepted by Mr Singh in the second week of March but have since missed deadlines to deposit agreed funds. The party did deposit 10% of the total funds that they formally agreed to unconditionally deposit. In the party’s original offer they identified a target exchange date in April which was missed and subsequently a second target exchange date in May which is now unrealistic given the inability to deposit funds.

The timeline of missed deposits and commitments significantly outdates any recent due diligence period. Due diligence access was granted in good faith ahead of full deposit of funds in order to support takeover endeavours, but it was never a prerequisite or condition for the deposit of full funds.

The Club is keen to clarify that current operations and all required due diligence information are in a robust state for any takeover assessment, with full credit to the staff who have been managing a very difficult backdrop over recent months.

Like with most National League takeover propositions a prominent consideration and due diligence item for any prospective owner is the level of funding required to sustain and progress the Club next season, and indeed year on year beyond that. Still at this stage no party has deposited the required proof of funds to a level to operate the Club next season.

In the absence of an immediate takeover, and with the Club already behind with critical planning for next season, Board members have approached Mr Singh to see if he would commit to further funding of the Club. A number of supporters have also personally contacted Mr Singh directly on this basis in recent weeks with concerns as to the Club’s future.

Without external funding support and a more stable environment to work under the Club will inevitably fall yet further behind with both on-field and off-field planning, which could ultimately threaten its very existence. The Club is already running the risk of failing to prepare for next season which could become unrecoverable in a very short period of time. The Club’s retained player list must be decided upon by Saturday and squad planning is well behind where it should be due to the current limbo position. Much of the good work that has been done over recent years to put the Club on a stable footing hangs in the balance. In summary the Board feel that the Club can wait no longer and must act now.

In response to the approach Mr Singh has made no formal commitment to step in as Chairman or principal funder. He highlighted that he could do so only if supporters want him to assist, and he was very mindful of prior supporter requests for him to step down. He has suggested that this should be a decision for supporters and not the Board.

The Club will therefore be asking its season ticket holders whether they would like to take assistance from Mr Singh in the current backdrop. An email communication with further details will go to all adult season ticket holders from 2024/25 and 2025/26 seasons. We would urge all eligible season ticket holders to provide their opinion on this critical matter.

A further update will be provided as soon as possible.