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Harriers takeover collapses

Chris Swan’s proposed takeover of Kidderminster Harriers Football Club has collapsed after the businessman withdrew his interest.

A statement on the club’s official site stated that Swan was ‘unable to reconcile fundamental issues’ regarding the purchase.

Swan had original approached the Blue Square Bet Premier side in December last year although talks broke down, but the deal appeared to be back on following an accepted bid with Kidderminster planning to complete the takeover this week.

The statement read:  "Having accepted a takeover offer from Mr Chris Swan, the board of directors were anticipating the completion of the club's sale during lunchtime on Thursday, February 03, 2011.

"The board, however, has learned this lunchtime that Mr Swan has withdrawn his interest in purchasing the club as he is unable to reconcile fundamental issues."

The Harriers, in serious financial difficulty, now plan to access further options to generate investment into the club.   

 

Scott Hobro

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