Wrexham FC purchase is 'imminent'

22 December 2004

Surrey business man Andrew Smith

I have a number of city backers and the funds are available but there are some technicalities

The sale of Wrexham Football Club is on the verge of completion, according to would-be buyer Andrew Smith.

The Surrey businessman says that only "legal technicalities" are preventing the under fire current owner, Alex Hamilton, from selling his stake.

"We just need other interested parties to sit down round the table and deal with the job," Smith told BBC Wales.

"I have a number of city backers, the funds are available but there are some legal technicalities I can't discuss."

Smith said he hoped the deal could be done with his United Plotowner's Associates consortium before Christmas, hopefully by late on Wednesday or Thursday.

"The deal should have been done by now, but unfortunately there is some issues that have got in the way and need to be resolved," Smith added.

Smith, a property developer, was keen to assure Dragons fans that the football team would continue to play at their Racecourse Ground home.

Hamilton had given the club notice to quit the home they have played at since 1872, wanting to build a housing development there instead.

"Our aspirations are to see the club put on a firm financial footing, to trade on in perpetuity - we don't want to see the club closed in any way," Smith said.

"We just want to see the club run better, with more use of the stadium ground, because we believe the club is a viable club."

Wrexham were forced to go into administration a fortnight ago because of debts approaching £3 million.

Smith revealed that he had also been in discussions with the administrators, Begbies Traynor, about how best to deal with Wrexham's debts.

"I believe the club could be out of administration by the end of January, but obviously that's subject to various meetings the administrator must hold," Smith said.