Linnets' chief meets potential investors
King's Lynn chairman Ken Bobbins met with two parties today interested in helping bail out the debt-ridden Unibond Premier Division club.Bobbins followed up lengthy meetings with the council yesterday by holding talks with a local consortium and a wealthy private individual in a bid to secure urgent investment.
King's Lynn chairman Ken Bobbins met with two parties today interested in helping bail out the debt-ridden Unibond Premier Division club.
Bobbins followed up lengthy meetings with the council yesterday by holding talks with a local consortium and a wealthy private individual in a bid to secure urgent investment.
Lynn must clear a �67,000 tax bill by the middle of next week and demonstrate they have plans in place to address the outstanding debts to rescind a High Court winding up order.
“I can't say too much more at this stage,” said Bobbins. “All I can say is one is very active and would be the ultimate solution to our problem. He has gone away and taken the figures to mull over but we've had a long, long chat and if he feels he can make it work he'll go for it.
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“I also met a consortium but unfortunately the chap I had a chat with on Thursday has pulled out. It was a bit of a long shot. He lived in Lincoln and he didn't feel comfortable with the travelling back and forward. These latest two parties have really just come forward due to the huge interest and publicity we've had over the last few days.”
Bobbins and majority shareholder Michael Chinn held productive talks with council officials on Friday afternoon - but Bobbins reiterated the council will not provide financial assistance in the club's hour of need.
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“It was a four or five hour meeting with the council,” he said. “They can't give us cash. We knew that and we've said that all along even though I know there has been a lot of speculation to the contrary. They have said that, provided we survive at the level we are, they will, if possible, make sure all the alterations to the ground are done by the March league deadline where we got undone by last season. If we wanted to get promotion the work to acquire a Conference ground grading certificate would have to be completed by this coming March.”
Chinn had claimed prior to meeting council officials on Friday he wanted council assurances over the essential upgrade to The Walks before considering whether to settle the outstanding tax bill.
For the full story read Monday's EDP.