EXCLUSIVE By Mark Currie, Daily Post
27 November 2004
FORMER
Wrexham chairman Mark Guterman last night withdrew his bid to buy the troubled
League One club from former business partner Alex Hamilton.
Amid recriminations from both parties as to the cause of the breakdown, the
Dragons now face the prospect of going into administration next Friday. The move
will trigger a10-point deduction by the Football League - subject to appeal.
In a statement issued though his lawyers, Guterman accused Hamilton of showing
no interest in opening negotiations on his consortium's bid, which was put
forward nearly four weeks ago.
It said: "We can confirm that on November 2 a consortium led by Mark Guterman,
supported by a leading clearing bank, put forward an offer to purchase Mr
Hamilton's interests in Wrexham AFC.
"The acceptance of this offer by Mr Hamilton would have safeguarded the club's
financial position, saved the club from going into administration and ensured
its future at the Racecourse Ground.
"It would also have resulted in a profit well in excess of £1m to Mr Hamilton on
his investment.
"Notwithstanding attempts to enter into negotiations with Mr Hamilton through
his solicitors Berg & Co we have received no constructive response to this
offer, despite satisfying all parties that the funding was, and is, available.
"As a result of Mr Hamilton's failure to accept this offer within a reasonable
time or to engage in any meaningful discussions, the offer has reluctantly been
withdrawn."
For his part Hamilton said Guterman's two-year tenure as chairman had
contributed to Wrexham's current financial problems and, on that basis, had
demanded to know the names of his present backers.
"Guterman wanted me to enter into a confidentiality agreement as to the identity
of his backers, which I am unwilling to do," he added. "His stewardship proved
financially disastrous for the club so he has to be treated with great caution.
"We, and I mean me and Wrexham's supporters, need to see who is there behind him
and I would like to be sure that the money is there on the table."
Hamilton owns a 78% majority stake in the club as well as owning the freehold to
the Racecourse Ground. He has already rejected two takeover bids from Wrexham
Supporters Trust.
His alleged failure to respond to the Guterman bid will merely fuel the
speculation he has no intention of selling his shares and is willing to see the
club eventually go out of business.
Last
night Hamilton confirmed the existence of a potential fresh interest, which has
been forwarded to him by David Acland, the insolvency specialist standing by to
run the club if and when the administration order is confirmed.
"There has been one new inquiry but no offer tabled," said Hamilton. "Under the
terms of the WST bid, which was subject to the successful conclusion of several
other conditions, I would not have seen any money for three years.
"The fact is that no organisation or company has so far tabled a formal bid or
any cash offer."
The Cheshire-based property developer said a reported £5m price-tag to
relinquish all his interests was a "ball-park figure".
Insisting he was ready to enter negotiations with Wrexham Council over the sale
of the freehold, he added: "That figure would possibly represent my interests
but I am waiting for a valuation on the freehold. I am trying to get the council
to pay the fees for that because I have no more money.
"As soon as I get confirmation of that I'm willing to sit round a table and
talk. The figure could be as low as £3m or it could be as high as £7m."
And Racecourse hate figure Hamilton challenged Wrexham fans to raise the
£900,000 owed to the Inland Revenue in order to save the club from going into
administration.
"Based on average gates of 3,000, if every fan came up with £300 the debt would
be paid off," he said. "I have put in £232,000 of my own money in interest-free
loans and I have re-mortgaged my house on behalf of the club."