Takeover ‘imminent’ for Bangor City FC
CLUB DIRECTORS AGREE TO STEP DOWN WITH NEW PARTY READY TO TAKE CONTROL
BANGOR City FC have announced that a takeover of the club is “imminent”.
The club’s owner Vaughan Sports Management, which has been at the helm at Nantporth since 2016, has announced that their directors have agreed to step down.
A new “party” is ready to step up to run the club, which has been beset with a number of problems in recent months.
The club’s owners have not said who the new owners are set to be, but had previously said they were willing to sell the club to the fans “if they think they can run it better”.
In a statement released last week, the club said: “New ownership at Bangor City Football Club looks imminent.
“Both James Lees and William Adamson, directors of the football club, have agreed to step down once the relevant due diligence has been completed by both parties.”
Mr Adamson added: “Talks are at an advanced stage, an agreement was made yesterday with the club’s major creditors which would ensure a smooth transition and the long-term future of the club.”
The announcement comes just weeks after Bangor City boss Stephen Vaughan Junior quit his role at the club.
The 33-year-old, who took over managing the first team after Craig Harrison left earlier this year, quit to join Malta-based Mosta FC.
Before he left, he issued an ultimatum to the Bangor City Football Club Supporters Association (BCFCSA), saying they should take over the club if they think they can run it better.
Vaughan Sports Management said fans could either take control of managing the club or get behind it and the team, calling the current atmosphere “toxic”.
Turnout at some games had slumped to 150 people.
Vaughan Sports Management previously said it was prepared not to turn its investment in the club into shares, and would leave the sums it has put into the club on the books as loans if the Supporters Association could come up with a plan to run the club itself.
City finished in fourth and second place in the Welsh Premier League in the two seasons since Vaughan Sports Management arrived on the scene.
But the club was relegated after failing to meet the financial requirements to obtain a licence to play in the Welsh Premier League.
And last month, the club’s auditors resigned with a stinging attack on the way the club was financially managed, listing what they said were 11 areas for concern, including what they called inaccurate information about loans, lack of supporting evidence about money introduced by third parties, and inaccuracies in VAT records.
Last month, the club announced former Premier League footballer Gary TaylorFletcher as their new manager. The BCFCSA have been approached for comment.