'Disappointed' consortium reveals just how many millions it was prepared to invest in Hartlepool United

Mr Singh revealed ahead of a Friday deadline that discussions “have been concluded” as a “viable agreement could not be reached”.

Thursday’s announcement follows recent discussions brokered by Hartlepool United Supporters’ Trust (HUST).

While the identities of the consortium members have still to be publicly confirmed, they are said to be “a group of partners who are all supporters of Pools”.

Now they have revealed more details about the potential sums involved in the January negotiations.

A statement issued on their behalf on Thursday evening by HUST read: “We were very disappointed to read Mr Singh’s statement today and, although there is a lot we could comment on, at this stage we would like to focus on what we see as the most important points.

"We have already made Mr Singh two serious offers and have the funds and, just as importantly, ideas needed to build a far better future for Hartlepool United.

"Any suggestion that we lack these funds is simply wrong.

"One of our members is a major international investment company with impressive, socially conscious projects under development in the North East.

"They approached the consortium as they wanted to be part of a partnership that can help to drive the club and town forward and showed us proof of £14m which was available for investment.

"After discussions, the investment company said that they were confident of the ability of the existing consortium members to drive our club forward and joined.

"At this stage the other members of the consortium had already deposited close to £600,000 in a solicitor’s account. This money has remained there throughout negotiations.

"We did not give Mr Singh a detailed business plan because we did not receive detailed enough accounts from him to be able to prepare one.

"We believed, and still believe, that a basic deal and detailed accounts are needed before proper planning can take place and made Mr Singh fully aware of this.”

Criticising what they see as Mr Singh’s “inflated idea” of the club’s value, the statement continues: “We’re extremely disappointed with this outcome.

"We were hoping to unite the supporters, the club and the town in a rise we could all share, enjoy and benefit from.”

While HUST has urged fans to get behind Kevin Phillips and the players, the overall mood on the Vic’s terraces is likely to be despondent when Pools face York City at home in the new boss’s first match in charge.

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