Takeover of Hartlepool hits a snag

Raj Singh’s takeover of Hartlepool United has hit a snag and is on the verge of falling through.

The terms for the sale of Pools have failed to be agreed, despite extensive negotiations between solicitors of current owner John Blackledge and Singh.

As a result, the takeover of the National League outfit hangs by a thread.

Hopes had been high that a deal could be struck this week.

Sources close to the Singh bid claim the goalposts have been moved in recent days, despite a verbal agreement being in place for some considerable time.

But, contrary to statements, no terms have ever been agreed for the sale.

It was believed that Stelling and Singh would take control of Pools without paying an upfront fee.

Instead, Blackledge would receive payments to make up his £1.8million investment further down the line, depending on transfer fees, promotion, etc, as well as percentages of future scheduled parachute payments.

When approached, Blackledge was unavailable for comment. The club also remain tight-lipped.

Either way it is the worst possible news for Pools heading into a potentially season-defining game this evening.

The players, who are due to be paid their monthly wages on Friday, take on Barrow at Holker Street tonight in what is being billed as a relegation six-pointer against a side just one place above them in the table.

Should Singh step away from proceedings, as appears likely at this stage, it is difficult to see where Pools turn next.