This is another new page to The Claret Flag. It will tell you everything you need to know about the ongoing takeover saga.
To start with, lets write everything we know, and follow it with a bit of gossip. Remember, we are just a fanzine, we may 'improvise' with the truth (especially when we say it is gossip!) :-)
Right,
About 8 months ago, a very successful American based business man called Ray Ingleby was looking to buy a football team. He is from the area, and so asked his right-hand-man, David Parry to have a look at the Burnley FC situation. Parry, a knowledgeable football man returned to Ingleby telling him that it would be an excellent investment, as the club has great support, a brilliant stadium, and one of the biggest names in the game in charge. Parry arranged a meeting with Frank Teasdale, and Ingleby flew in to meet. Now for the shocker. Frank 'I put the club first' Teasdale said Do You Want To Sponsor The Shirts For Next Season? Ingleby was not amused.
So, about 2 months later, a group of people got behind the consortium 'APEX' and they quickly tabled a £1m bid for 51% of the club. Frank was definitely not pleased, and the group, who rumour has it was backed by the local business man who runs Winfields, gave up their attempt. Now to know what Teasdale is really like is hard for an outsider to realise, but here it is. Frank Teasdale stood up at the AGM and answered the question 'Have there been any official bids for the club?' - 'No' was Frank's answer. However, a gentleman then stood up and said, leaving Frank with a VERY red face, 'But, I know for a fact that there has been a £1m bid tabled'.
So, the pressure was mounting on the board, as many saw a change of board linked with the sacking of Waddle. Burnley were bottom, and fans were angry to say the least.
Ray Ingleby met with Frank and co. again, and this time offered £4.9m for all the unissued shares in the club. Obviously, this means that the club gets £4.9 to start with, however Frank and chums get a big fat ZERO. Obviously, they realised that the fans wouldn't like the club turning down the billionaire, and so they dithered and dallied about a 'mystery' bidder.
Eventually, the mystery bidder was revealed. Former school teacher, and life-long BFC fan Peter Shackleton had mustered up backing for Canadian broker Murray MacDowell, and 5 ANONYMOUS SWISS BACKERS. Now, to explain, people put money in Swiss banks for one reason, and one reason only - because the money is dodgy money. (Obviously, I'm not saying that this money is dodgy, but I'm also not saying it isn't', I'm just being Mella Dramatic!)
So, eventually we have 'a deal', the Shackleton camp agree to give the club a £1m token of good will, no strings or anything (YEAH RIGHT!). So, Peter Shackleton says "The button has been pushed". Well, after one week, and no money the bribe is removed. Shackleton pulls a Teasdale on us and says he thought that Pushing Buttons meant something entirely different. In the last week however, Ray Ingleby has bought up 40% of the club for individuals not on the board. These people include Harry Brooks. Ingleby has also been supported by people such as Brooks, Walter Hubert, and other successful local businessmen. Ingleby then goes on the radio and says that if he wanted to, he could push the button on Saturday, and inject a huge sum of money into the club by Monday. But he doesn't want Frank in control of that!
Oops! Sorry, I missed the best part of all. The week before, Ray Ingleby went on the radio and said, and I quote, "Frank is a nice guy, but, Frank Teasdale couldn't run a piss-up in a brewery". Well, the takeover was well and truly hostile by that point!
And that brings us up to date. Roughly 8 months condensed into a couple of pages. This is where you come in.
The Lancs Telegraph had a poll:
Ray Ingleby - 307, Peter 'Frank Teasdale' Shackleton - 1
Okay, now the new bits. Shackleton failed to win over the people at the talk with members of CISA. The majority of clarets still want Ray Ingleby.
Unfortunatly that's all that's new. Ray Ingleby called a halt to takeover talk due to the relegation battle (which we survived!), and also, on radio that night, stated [sarcastically] how he obviously Peter Shackleton's money won't have arrived.....it's only been three weeks!
Now more new news. Ray Ingleby has pulled out of the deal, saying that he is sick of trying to sell himself to the board. They have been totally unco-operative, and he doesn't feel that he can do business with them. He has asked for two places on the board, which he feels he is entitled to, being the largest shareholder at the club, but the directors have said that this would be inappropriate.