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Consortium poised to rescue debt-ridden Malvern
A TAKEOVER deal to secure the future of struggling Malvern Town Football Club has been agreed.
Your Worcester News can reveal that club officials have accepted a takeover offer from the Save Malvern Town Football Club Consortium (SMTFCC).
The consortium emerged with an 11th-hour bid to save the club when it emerged it was riddled with debt and facing being forced to sell its Langland Stadium home.
And now it has been given the official go-ahead to take over and plough investment into the club to save it from bankruptcy and clear its debts – which amount to more than £200,000 to creditors including Marstons Brewery and HM Revenues and Customs.
The consortium’s identity has been kept a secret but your Wor-cester News can reveal the identity of the two men at the forefront of efforts to save the club.
They are businessman Chris Pinder, aged 28, owner of Mal-vern Link-based technology company HD Connectivity Ltd and Ted Grizzell, 23, owner of Zig Zag coaching and an academy coach at West Bromwich Albion FC.
On a technical level the take-over will see Malvern Town transformed from a members club into a private company. Shares will be issued and the consortium will take ownership of club assets such as the stadium and social club.
“It will no longer be a club run by the members, it will be run by a management team,” said Mr Pinder. “We don’t want to take anything away and want to reassure people that this club will be enhanced by our involvement.”
Malvern Town spokesman John Banner confirmed that committee members have accepted the SMTFCC proposal.
“It is good news and it gives the club a real chance of a positive new start,” he said.
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