04 December 2004
By Carl Butler
CRISIS-HIT
Wrexham football club was clutching at a straw last night with hopes that a new
buyer may have been found.
But as the 132-year-old club was placed in administration by the High Court in
Manchester, it became the first ever victim of new league rules - and had ten
points deducted, plunging it into the relegation zone.
A Surrey-based businessman emerged as the frontrunner to take over the club.
Current owner Alex Hamilton last night said he was confident he could strike a
deal.
Surrey property dealer Andrew Smith and two associates were yesterday looking
around the Racecourse Ground -just three hours after the administration order
was granted in a Manchester court.
Sources suggested Smith planned to keep the club at the Mold Road site and
improve its finances by a partial housing development of the Kop End, a plan
first mooted by the Wrexham Supporters' Trust.
Court-appointed administrator Steve Williams confirmed Hamilton was in "serious
discussions" with an interested party.
He said an announcement was expected in the next few days.
Alex Hamilton |
I am optimistic that I can come to an agreement
|
But Mr Williams warned the deal would only go through with his approval.
The Football League also has to be satisfied the change of ownership is in
Wrexham's interests.
Director Dave Bennett said it would be excellent news for the club if the
businessman emerged as its new owner, provided he kept Wrexham at the
Racecourse.
Alex Hamilton told the Daily Post: "I can confirm there has been interest and I
am optimistic that I can come to an agreement but it is very early days yet."
Wrexham FC may appeal against the points deduction. But it must first raise
£20,000 to fund the bid. The club now lies third from bottom.