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Crewe For Sale

A small advert yesterday in 'The Times' announced that there is an 'opportunity to acquire a controlling interest in Crewe Alexandra Football Club'. This decision following an agreement that the best course of action to move the club forward would be to seek new investment. The aim of the takeover is, according to Bowler, to attempt to be able to compete with the financial muscle of the Championship. The net asset value of the club was stated as 'circa 8m'.

Daniel Potts, who owns 22.9% of shares, has been trying to sell his shares for some time now having failed to make it onto the board. One of Norman Hassall or Norman Rowlinson have now decided to also sell their shares in order for the club to progress. Hassall owns 25.75% of shares whilst Rowlinson owns 24.28% of shares. Therefore, whichever of these investors are selling along with Daniel Potts, the stake on offer will not be enough to reach the important 50% figure, meaning that any investor may attempt to purchase some of the 13.37% of shares currently held by a total of 860 minority shareholders.




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The Journalist

Writer:  Mail feedback, articles or suggestions

Date:Wednesday February 1 2006

Time: 6:07PM

Your Comments (oldest first)

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I believe it is Norman Hassall shares that have been added to Potts is shares and richard clayton's shares maybe included to potential buyers
mowen23
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06/02/2006 16:30:00

 

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