More high drama at Weymouth
Posted by John Beech on November 24, 2009
A press conference scheduled for last night was postponed, and the Dorset Echo has carried two reports today (1 and 2) which provide some insight, if not full transparency, on what is going on. Cancelled press conferences are a bit of a Weymouth thing – back in March one was cancelled when Stephen Beer, who was expected to be announcing a £300,000 investment in the club, was rushed into hospital with a suspected stroke just thirty minutes before it was due to take place (3).
So far as I can tell, the Ryan/Beasant offer (see 4), which had looked set for confirmation, had in fact been rejected, the alternative George Rolls bid, at least according to George Rolls, former Chairman of Cambridge United, having been accepted instead. This, it would seem, was to be announced at last night’s press conference, which was cancelled at one hour’s notice.
Derek Bish of the Dorset Echo suggests that pressure had been put on the board by Malcolm Curtis, a former director currently trying to recover money owed him by the club, by saying in an email that he would demand immediate repayment of his £221,000 loan if Ryan and Beasant were allowed to take over the club.
Ryan confirmed late this morning that the directors had placed unacceptable conditions in his way (get rid of Beasant? pay off Curtis? [JB]), thus in effect rejecting his offer, adding “Consequently our offer was rejected in favour of George [Rolls]‘s“.
There is no confirmation from the club that Rolls’s bid has been accepted, the club website having gone very quiet. There does not seem to be a third alternative other than Administration, which the board has tried desperately to avoid. Definitely one to watch.
John Beech said
WEYMOUTH UPDATE
The Dorset Echo has revealed the terms for the mooted takeover by George Rolls (1). From his perspective, I would guess that they do not look too attractive, and the required timescale is very short.
John Beech said
CURTIS EMAIL REVEALED
On a bit of a roll, the Dorset Echo has published the email Malcolm Curtis sent to the directors on Monday (1).
It makes clear that he prefers the Rolls bid to to the Ryan/Beasant bid, but probably sees liquidation as the sensible option, at least from his perspective. So no pressure then! ;-(