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Ludlow FC sale to be completed within weeks
Tuesday 23rd August 2011, 2:21PM BST.
A deal to sell cash-strapped Ludlow Town FC to tackle its debts of almost half a million pounds should be completed within weeks, its chairman said today.
Club chiefs revealed to members earlier this summer they were on the verge of agreeing a £450,000 deal with the Plymouth Estate which would see the SBS Stadium, in Bromfield Road, leased back to the club for £1,000 a month until 2041.
There have been no new announcements since late June, when club chairman Nick Holcombe revealed a last-minute hitch concerning land owned by a third party was putting the club in a “very tricky” financial situation.
He said creditors were growing increasingly impatient over unpaid bills.
But Mr Holcombe today said he remained positive that “complex” wrangling would be resolved and the sale would be finalised soon.
He said: “It is not a case where no progress is being made.
“It is weeks away and won’t be months, but I don’t want to say too much as it is complex and there are a lot of minor details. It would be invidious to single out any particular details.
“I’m still reasonably confident we will manage to find a deal,” he added.
“We are still working on the same deal, there is nothing new.”
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