Date:Monday September 13 2010
Following speculation and rumour regarding the possible takeover of NFFC by an Irish consortium, it appears that there is a second party to have expressed more than a passing interest into the future ownership of the club.
Multiplex, the designers and builders of the new Wembley stadium have thrown their hat into the ring and have become a major rival to the apparent bid on the table from the Irish consortium. So, what exactly is it that suddenly makes NFFC such an attractive proposition for some of the countries biggest financial hitters? The answer to that question, is the land situated on the Eastside development area of the city. Now that plans to build the new stadium at Gamston are dead in the water, attentions have now turned full tilt to this brown field site, just outside the city centre which is ripe for development.
The deal on offer from Multiplex could be quite appealing to current Chairman Nigel Doughty, if he can manage to earn himself a slice of the action regarding the future development of the land. The deal on the table from the Irish consortium, is a cash upfront deal and if successful would give them complete control of the club, the land at Eastside and would fund the building of the new stadium.
From a supporters perspective this has to be seen as good news, not only because the new stadium will no longer be situated at Gamston, but more for the financial firepower the backing from the new owners would give. The names of those connected with the Irish bid are some of the biggest players in world finance, as well as the world of sport. Two are well respected household names and have been connected with one of Europe`s biggest clubs in the past. The other names on the list come from both a financial and sporting background.
Although there has been speculation about a possible takeover of NFFC for sometime, that speculation grew with news that the club had put it's holding company, CFFN Holdings into liquidation. It wasn't until questions were asked about why this had happened, that the club gave any explanation. That explanation came from NFFC Press Officer Fraser Nicholson, who merely said the holding company was liquidated for administrative simplicity and for no other reason. That may well be true, but there are reasons to believe that Chairman Nigel Doughty has had to reduce his investment in NFFC and is actively looking to bail out of the club.
The Irish consortium is believed to be the frontrunner, with negotiations said to be at an advanced stage. Whilst Multiplex have the ability to deliver the new stadium and the financial clout to take control, they have a chequered history in terms of getting things done on time and within budget, as they proved with the building of Wembley. Vital Forest asked NFFC Chief Executive Officer Mark Arthur to comment on this article and his response was that there was no truth in it. Because of the information that I as Editor of Vital Forest have received, I believe there to be more than a grain of truth in what has been said and stand by the comments made.
Date:Monday September 13 2010
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