King's Lynn to reveal new investment
Paddy Davitt King's Lynn chairman Ken Bobbins hinted yesterday further investment is imminent after confirming two new directors are poised to join the Blue Square North club's board.
King's Lynn chairman Ken Bobbins hinted yesterday further investment is imminent after confirming two new directors are poised to join the Blue Square North club's board.
Lynn officials will unveil one of the Norwich-based duo at a press conference tomorrow evening following successful talks to help plug the financial gap left by major backer Michael Chinn's exit.
Bobbins revealed Norfolk's premier non league club is also in advanced discussions with potential fresh investors to safeguard Lynn's long held aim of securing Blue Square Premier football.
“We've got one or two other things in the pipeline which are as exciting - if not more exciting,” said Bobbins. “One of the two guys coming onto the board wishes to remain anonymous at the moment and we will respect that but the other person will be present at a scheduled press conference
“We haven't really needed to sell the club to them. They knew King's Lynn FC. They've been here and they've seen how the club works and liked what they saw. Like us, they can also see the potential of the club and they would like to come on board and help us see it through and move the place forward. Both were keen to join the board and, as I say, we've got other possible exciting prospects happening next week.”
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Bobbins will remain at the helm in the short term as a condition of the new investment deal.
“Yes, there were discussions about that and part of the agreement, if you want to call it that, is they asked me to stay on as chairman,” he said. “I'm happy and certainly prepared to do that until the end of this season and then we will re-assess it. As regards the playing side of things that is an on going situation because we are in the process of trying to attract further investment to take the club where we want to take it. New investment is going to be necessary to do that. This is a big step forward with the two guys who are coming on board and next week we hope that work will continue.”
Bobbins admitted Lincolnshire-based businessman Chinn's recent departure was a major financial blow.
“It wasn't a perilous position,” he said. “What it did do was prove awkward for us in the sense of the speed Michael left and the set-up we had in place. Michael had asked for certain conditions on the board when he was involved that made it very difficult for us to get other investors while he was there.
“Clearly that restricted our ability to attract new directors so that when he left it did leave a huge void. It has been very difficult for everyone and a lot of hard work from many different people, not just me. That will continue to the end of the season. There is still a huge amount to be done - not least of course preparing the ground for next season.”
Bobbins' believes an influx of fresh capital is vital to the club's stated objective of moving through the football pyramid.
“We can generally sell the club because the potential is there for all to see,” he said. “The fanbase, the stadium, and the potential to grow in the future but in this economic climate people just don't have the money to invest and certainly not in a football club.
“I think the foundations are in place and that helps in this type of situation. I also think it's something gradually manifesting itself on the pitch if you look at the squad. We're now getting a more experienced group and that has been evident in the last few games which perhaps we would've lost earlier in the season. We are building and it is slowly coming together. Hopefully next year the consolidation side of things can have passed and we can push forward and challenge.”
Read Mark Hearle's latest exclusive behind-the-scenes club column today only on edp24.co.uk/kingslynn