Date: 21st March 2011 at 5:45pm
Written by:

Mike Newton has withdrawn his interest in buying Stockport County. A club statement read:

On Wednesday 16th March the club was formally approached by Mike Newton, a prominent New York based businessman, who requested information about the club and expressed an interest in investing.

The club has been approached on numerous occasions by individuals and groups wishing to play a part in the running of the club, many of these contacts contain very little serious content. However this approach and the individual had enough substance and credibility for the contact to be taken in full seriousness .Therefore a full discussion concerning this approach was held at the shareholders meeting last Wednesday evening and it was agreed that in the interests of the club and the fans the discussion should be taken to the next level. An official response was provided to Mike Newton together with the information he requested, and informal talks were held as to the details of a potential deal.

However after due consideration and discussion Mike Newton has decided not to pursue his interest any further at this time.

Mike Newton was completely professional in his dealings with his contacts with the club and received all the information he requested. However both parties had signed a non disclosure agreement and therefore it was not possible to disclose the full details of the approach until this morning.

The Board

 

5 Replies to “Newton Walks Away”

  • … because right now there is nothing to buy? A loss making name of a club? Will Sale walk off into a Salford sunset? Will Kennedy screw the life out of a wrecked Stockport County rent-wise at EP?

    Nowt positive in my mind.

  • I was suprised he was intersted in the 1st place, but lets hope someone else who genuinly wants comes along soon..

  • It really needs a County fan to invest given we have no assets as yet to talk about. I really feel for the board especially Mary, she has and is doing all she can to make this once fantastic football club great again, it must be so very difficult for her and the board given that they dont have vast amounts of money to throw at the club with no guaretee of getting anything back in return, Thanks for all you are doing Mary.

  • In my opinion, Mary and Tony Gibbons are working their tripe out. They do not deserve some of the stick they are getting. Fact remains though they are not doing a brilliant job – the dilly-dallying over the replacement for Simpson being the biggest clanger. Why are they (seemingly) getting no support from the very quiet, nay invisible other shareholders of the 2015 group? This bit is pure speculation: Are there members of 2015 who would like to see us play elsewhere…e.g. Woodley and are not bothered about how far we drop down as long as in the medium terms they get their butty in the shape of monies made from any new stadium? As I say, I hear whispers but it could be nonsense but there has been a lack of ooomph from most of our owners in response to our plight.

    Ideally new investors or investment would come in giving the Gibbons enough resource to employ key members of a management team… or even allowing them to walk away bruised but still having a club to support.

  • Without Mary Gibbons there wouldn’t be a stockport county… the sad reality is that even with Mary Gibbons there still might not be a SCFC, she cant magic money that isn’t there!!! goodness me wouldn’t we all like a brand new Merc or BMW? wouldnt we all like to travel first class on Virgin Atlantic when travelling to the USA ? I guess the answer is yes and the reason we dont is that we dont have the money for those luxuries, so using that analagy the reason we are in this position is because we have no money to buy our way out of this predicament buy buying quality proven players, as I say if it wasn’t for the likes of Mary Gibbons we wouldn’t have a club, she has put her own personal wealth into our club and I would like to give her and the board support and say thank you for your efforts….I as as disappointed and frustrated as everyone else.

Comments are closed.