Stockport still confident of survival

Published: 15 Feb 2010 - 13:00:55

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The crisis-torn Hatters suffered a blow last week when the Melrose consortium, led by former Manchester City player Jim Melrose, had a bid to buy the club fall through. But a statement released on the club's official website over the weekend, said: "Despite this week's decision by the Football League, the administrators are confident that there are other viable options that can be pursued that will ensure the club's survival. "This is in addition to the fact that the Melrose consortium are still in discussions with the administrators and the Football League in an attempt to secure a sale, and the possibility of new purchasers coming to the table." The statement also explained the sale of players, including captain Michael Raynes to Scunthorpe, adding: "In addition to the club's current financial difficulties, the block on funding from the Football League, which is the position in all Football League insolvencies, created a significant drop in income which could only be funded through the sale of club assets, namely players. "Without player sales, the administrators would not have been able to pay the staff and players and the club would have been unable to trade."