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Deal to save Bulls edges closer
11:02am Saturday 10th May 2014 in Sport
A DEAL that could secure Hereford United's future is expected to be agreed by the middle of this month, according to chairman David Keyte.
The Bulls, who escaped relegation from the Skrill Premier on the last day of the season, need £300,000 before the end of the month to stay afloat.
They also need to pay football creditors before the Conference's annual general meeting at the start of next month or face being kicked out of the league.
Talks are ongoing with potential investors, one thought to be a Kensington-based property company.
The club's supporters' trust have also made an offer to take over the Edgar Street club but that is being treated as "a last resort".
Keyte said: “We are continuing to have discussions with two parties of outside investors who are fully aware of our cash requirement and the time-scale involved. We expect to conclude the process within the next 10 days.
“Time is ticking towards the Conference AGM at the beginning of June. “By then, football creditors
have to be paid which includes fees for loan players, players’ wages and back-wages for Martin Foyle but not his dismissal compensation.
“If football creditors have not been paid in full, then the Conference have the right to impose sanctions, which could, ultimately, be relegation.”
Keyte also met with Hereford United Supporters Trust this week about
The Bulls chief said: “Both parties are working to the same end, which is the survival of Hereford United (1939) Ltd.
"But we have told them that their offer would be a last resort because we believe that we will secure
A trust statement said: “The club’s board retains significant hope that the two outside investors, whose negotiations are far in advance of HUST’s position, remain the club’s best chance of progress.
"But were keen to stress that they would not dismiss a bid from HUST if it remained the only viable option for the club to continue."
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