Hartlepool United takeover – what we know so far and why Raj Singh won't sell up

After announcing the first eight signings of the summer, things are really starting to heat up at Victoria Park with further arrivals expected.

But talk of the town at the moment is that of a possible takeover, which would be the club's fourth in five years.

The Mail understands that an unnamed consortium has been in discussions throughout the summer but chairman Raj Singh is not entertaining the offer that has been put forward to him.

Singh labelled the bid as ‘insulting’ to BBC Radio Tees Sport while acting executive director Martin Jesper described the news as a ‘non-story’.

However, sources close to the proposed deal claim it involves a multi-million-pound investment in the club.

But given Pools’ recent history of unstable ownership, Singh’s reluctance to sell the club to just anyone is understandable – why risk undoing all the hard work and investment that has gone into steadying the ship at Pools?

Intentions of prospective owners in the current climate will rightly be called into question as well. In the past year, we’ve seen the likes of Bury, Bolton Wanderers, Wigan Athletic, Macclesfield Town and Gateshead all suffer significant repercussions as a result of bad ownership.

But Singh cannot fund Hartlepool indefinitely with accounts for the 2018-19 campaign revealing losses of £860,000.

Losses were reduced last season and have been cut significantly so far this year as part of the fallout of the coronavirus pandemic.

Now an opportunity has presented itself for Singh to rid himself of the financial burden that is Hartlepool United and leave with a positive reputation as a man who helped rescue the club from the brink of collapse.

Singh’s mission to steady the ship at Victoria Park has, for the most part, been a success, but there are doubts as to whether he can take the club much further without sourcing significant investment.

While Pools technically isn’t worth anything given its current inability to generate profits, you wouldn’t blame Singh for wanting to see some return for his time and investment in the club which is believed to be in the region of £2 million.

This is despite Singh initially committing himself to invest £1 million in Pools when he first took over in 2018.

And after keeping the club afloat (albeit on a minimal budget) during the precarious and unprecedented situation brought about by the coronavirus pandemic and shut down of football, Singh will simply not hand the club over for a nominal fee.

But refusal to sell now will inevitably lead to further losses down the line. It’s a case of holding out for an improved offer while potentially risking having to make further investments, or biting the bullet and cutting your losses.

Is the interest genuine? Yes, interest is common in clubs but this has gone slightly further where an offer has been made. But the reality is if the club is unwilling to entertain it, then it won’t go any further unless a new offer is made.

A message from the Editor:

With the coronavirus lockdown having a major impact on many of our advertisers - and consequently the revenue we receive - we are more reliant than ever on you taking out a digital subscription.

Subscribe to the Hartlepool Mail website and enjoy unlimited access to local news and information online and on our app. With a digital subscription, you can read more than 5 articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit here to sign up. You can subscribe to the newspaper with 20% off here. Thank you.