Stags allay takeover fears
16 Oct 2007 - 12:19:05
Prospective new Mansfield Town owner James Derry insists his bid to take over the club remains on track despite a delay in taking the reins.
Derry and his consortium agreed a deal to buy the club from controversial managing director Keith Haslam earlier in the month, but contracts are yet to be signed and sealed.
However, Derry has allayed fears over the deal by claiming some red tape is all that is holding up the purchase.
"One of the reasons for the delay in completing the contract is that under Football League rules there are now stringent rules in forming a new company following the problems at Leeds United and other clubs," he told the club's official website.
"The only problem with that is that there are things that need to be done in greater detail to assess the liabilities when you are taking on a football club.
"We are working towards completing the contract at this moment in time and I expect it to be sorted out sooner rather than later."