Lifeline for Terras (From Dorset Echo)

Lifeline for Terras

9:13am Tuesday 17th November 2009

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Weymouth Football Club is all set to be under new ownership by this time next week after the Terras’ current board accepted Chris Ryan’s latest approach.

Ryan’s consortium has vowed to inject more than £150,000 into the club and enter into talks with creditors in a bid to make the club break even within 12 months.

But most importantly for the club’s fans, who feared the Terras would be liquidated yesterday, there will be a team to support against Woking tonight (7.45pm) and at home to local rivals Dorchester Town in the FA Trophy on Saturday (3pm).

The club’s statement said: “The board of Weymouth Football Club have agreed to pursue the offer made by Chris Ryan and Steve Beasant, subject to certain conditions being met in order to safeguard the club’s future.

“A deadline of one week, noon on Monday, November 23, 2009, has been set for Mr Ryan and Mr Beasant to satisfy the conditions imposed.

“The board would like to thank both Mr Ryan’s consortium and Mr George Rolls for their interest in Weymouth Football Club."

Ex-Cambridge United chairman Rolls offered to inject a figure in the region of £50,000 into the club, but Beasant told a public meeting on Sunday that Ryan’s consortium would inject in excess of £150,000.

However, as said in the club statement, any deal is subject to Ryan’s consortium satisfying imposed conditions.

“They are the standard things that have to be set for any business deal,” the Weymouth Football Club board confirmed to Echosport after the statement had been released.

“The board has voted to accept it as long as the legal conditions are met.

“As soon they done that the board will meet to ratify that and then the new board will be constituted.”

Regarding choosing Ryan and Beasant’s bid over George Rolls’ offer, the board added: “It was a very similar offer but financially we have a responsibility to maximise that for the football club.”

It was also confirmed that Paul Cocks had left the board.

Manager Ian Hutchinson said: “I’ve spoken to Steve Beasant quite a bit in the last couple of weeks.

“I like what he has to say as well as his views and visions for the club.

“They are realistic, which is something we have got to get back to.

“He wants to get the community involved and have a family-friendly club.

“I’m sure he will be speaking with the players again today to put them in the picture and to give them some assurances.

“It seems that off the pitch there have been some positive steps.”

It is understood that Ryan’s consortium hope to complete a full audit and full due diligence in time for a new board to be in place by the time the Terras host Dorchester in the FA Trophy on Saturday.

Ryan and Beasant are expected to release a full statement within the coming week.

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