Hartlepool United chairman Gary Coxall has revealed he has bounced back from bankruptcy to take charge at Victoria Park.
In a Q&A with Pools fans on the club website, Coxall says he has “nothing to hide” about his past after taking over at the League Two side this week.
Coxall and director Peter Goldberg are the new co-owners after JPNG took over from Increased Oil Recovery (IOR).
And when asked about the rumours surrounding one of the club’s new directors having previously been declared bankrupt, Coxall confirmed it was him.
Coxall said: “That’s 100% correct and the director in question is me!
“I have absolutely nothing to hide and I’m not ashamed by it at all, nor should anyone who’s been bankrupt be. Basically, a venture hit a very difficult time and had a knock-on effect back in 2005.
“It hit me hard and I was determined to learn from it, meaning I had to start again since being discharged in 2011 and grow up. I still say that if I hadn’t learned from a bankruptcy then I would never be in a position to own/chair a football club, so I have to say that I’m also proud of myself and the people around me that supported me.
“Because of my past I’m very keen to help people suffering from financial difficulties and stresses it brings with advice as it is a horrible, worrying time.”
Coxall also confirmed the club’s intentions to buy their Victoria Park ground from Hartlepool Borough Council and said improvements will be made to the ground in due course.
IOR subsidised the club by around £1m a year and when asked if JPNG will be doing the same, Coxall replied: “The plan is that commercially HUFC will be much, much stronger and self-sufficient in a short space of time.
“In order to comply with FL rules specifically FFP we need to bring more money into the club commercially, but should it need subsidising then, as responsible owners, we will of course do it,” who added there is a budget for new players.