'Big, positive step' as consortium is set for talks with Hartlepool United over club's future

Hartlepool United Supporters’ Trust (HUST), which has been holding discussions with both Pools chairman Raj Singh and potential investors, describes the development as “a big, positive step” while stressing that “it is only the first step in a complicated process involving several parties”.

HUST says the consortium has provided initial proof of funds so that it can talk to the club in the coming weeks.

Mr Singh, who put the club up for sale ahead of its relegation to the National League in April, previously said he would only speak to serious bidders and that no-one had even passed “the first hurdle”.

In a statement released on December 23, the trust wrote: “HUST is pleased to announce that we have successfully brought together a consortium which has provided initial proof funds to HUFC’s chairman.

“This is a big, positive step but it is only the first step in a complicated process involving several parties.

"There is still no guarantee of success and Mr Singh, who has been good to work with over the last few weeks, remains in charge of the club.

“While nobody has made a commitment yet, the initial proof of funds will allow the consortium to talk with HUFC in the coming weeks and to review some initial high-level information.

"After that, the consortium members may set up a formal structure and approach HUFC with a proposal. Even then a careful checking process known as due diligence would be needed.

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“As we are still at an early stage the other members of the consortium would prefer to remain anonymous for now.

"This is partly because the exact make-up of the consortium could change as we move through the chain of events outlined above.

"We can say that we’re delighted to have found a group of partners who are all supporters of Pools and have strong family ties to our club or our town.

"They also bring skills which complement each other and a shared approach to the way they would like to work. Everyone involved wants to build a successful club that the whole town can feel proud of and be part of.

“We should add that as a democratic organisation HUST will consult all members through a vote before committing to any definite course of action.“Finally, we hope that you all have a fantastic Christmas and a happy new year.”

Pools, who are four points from the relegation zone in 15th place after fighting back to draw 4-4 at Wealdstone on Saturday, have still to comment on the announcement.