Stockport County Association Football Club Limited (SCFC) entered into administration on 30 April 2009, with the appointment of John Titley and Paul Reeves, Directors at Leonard Curtis, as Joint Administrators.
This statement is an update from the administrators.
On the evening of 22nd June 2009, the Joint Administrators gave formal permission for Brighton and Hove Albion FC to begin discussions with SCFC players James Tunnicliffe and Gary Dicker although a transfer of either player has yet to be agreed.
As with the sale of Tommy Rowe in May, this decision has been necessary in order to raise the funds which are required to pay ongoing critical trading costs, including wages.
As previously stated, agreement has been reached in principle with the Jim Melrose consortium.This follows protracted negotiations with several other bidders, who either failed to raise the necessary funding or who simply withdrew their interest.The Melrose deal is still subject to them agreeing terms with the landlord and whilst we understand that the commercial terms of the lease are agreed, we believe that the landlord is seeking certain assurances with regard to the future operation of the business moving forward.
A spokesman for the Melrose consortium said: "We have agreed terms with the Administrators and we have agreed to all the conditions of the lease put in front of us by the landlord, Cheshire Sport. However, the process of reaching final agreement with Cheshire Sport is taking so long that we are in danger of directly affecting the financial and playing strength of the club at a critical stage in the pre-season period.
"The club is not able to actively market the sale of season tickets or strengthen the squad until Cheshire Sport agree to sign the lease and support the CVA. We remain committed to Stockport County and will continue working to try and secure a future for the club."
James Jennings, chief executive at Cheshire Sport said: "Cheshire Sport note the announcement on behalf of the Melrose Consortium and find the comments both surprising and inconsistent with the current state of negotiations.
"Discussions are on going and Cheshire Sport are awaiting confirmation that the Melrose Consortium will be in a position to capitalise the football club on the terms agreed.
"It is critically important that the new owners of Stockport County have sufficient funding to ensure that the football club can stand on its own two feet."
