Council to decide next week whether or not to loan money for Chesterfield FC takeover
The proposed takeover of Chesterfield FC is expected to reach a conclusion next week.
After months of discussions, setbacks and delays the direction of Chesterfield FC Community Trust’s bid to buy the club is likely to become much clearer.
This is because the trust, which has been in talks over a deal to purchase the club since last September, will find out whether their application to lend money from Chesterfield Borough Council to help with the transaction, has been successful or not.
Chesterfield Borough Council’s cabinet will make a decision next Tuesday (July 14) with the meeting starting at 10.30am.
The agenda for the meeting lists the item as ‘Chesterfield Football Club - request for loan assistance’ but no more information is given as it is ‘restricted’ because it is related to the financial and business affairs of the council.
Members of the public will not be allowed to listen to the discussions and will be asked to leave the room, which is normal procedure for restricted matters.
If the cabinet give it the green light, we understand it would mean the community trust has enough funds in place to purchase the club from majority shareholder Dave Allen and will likely take over at the end of the month.
Along with the borough council, we understand there is at least one other local authority, believed to be Derbyshire County Council, also involved in providing funds for the takeover.
The trust has been working on a deal to purchase the club from Mr Allen since last September but has faced funding setbacks along the way as well delays caused by Covid-19.
If successful it would bring an end to Mr Allen’s 11-year involvement in the club.
After first investing in the club in 2009, he took over as chairman from Barrie Hubbard in 2012 before resigning in November 2016.
He put the club up for sale in February 2017 and despite some interest this is the closest he has come to selling it.
The trust is the charitable arm of Chesterfield FC and works closely with the club but is independent.
The trust provides a wide-range of sporting, community and educational activities across parts of Derbyshire.