Ciderspace News Page : Stockport Still Left In Limbo
12 March 2010 : Stockport Still Left In Limbo
League One side Stockport County have once again failed to convince the Football League that their proposed new ownership structure is ready to take over the league membership Golden Share, on behalf of the old Stockport County company that fell into administration last April.

Just over a week ago, administrators Leonard Curtis announced that the Melrose Consortium had agreed all terms with them, paving the way for them to take over the running of the club. Last week they said:

"We can confirm that the administrators have agreed terms with the Melrose Consortium for the sale of the club. As with their previous offer however, the sale remains conditional upon them reaching agreement with the landlord, Cheshire Sports, and the Football League."

A meeting was held yesterday with the Football League, but the league have once again bounced their attempts to regain full membership of the league, with a statement saying:

"The Board raised a number of further queries about the proposed takeover of the club and these will be discussed in due course with the administrator and the proposed purchasers."

The transferring of the Golden Share from the old Stockport Company company to the company controlled by the Melrose Consortium is a necessary step for the club to come out of administration. If they are unable to agree terms with the Football League for the start of next season, which will include the way that the Cheshire club will honour its debts and the presentation of a credible business plan and ground lease, the belief is that Stockport would be expelled from the league over the summer. This is because without the Golden Share, Stockport would lose membership of the Football League and the league will not allow a club to go two seasons running without full membership.


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