Exclusive: Pam Duxbury warns of administration nightmare for potential Hartlepool United investors

Pools chief Pam Duxbury.
Pools chief Pam Duxbury.

Pam Duxbury has warned potential investors to show their hand now before Hartlepool United go into administration.

A number of interested parties have come to the table this week, after recent appeals to find a buyer.

Jeff Stelling has appealed for investors to come forward and aid his bid to take over at Hartlepool United.

Jeff Stelling has appealed for investors to come forward and aid his bid to take over at Hartlepool United.

But, as is so often the case in these situations, some have proved to be time-wasters. And at this point one thing Pools are short on, bar cash, is time.

In light of the need for rapid progress, Jeff Stelling yesterday revealed he has agreed in principle a deal with owner John Blackledge, and has, with a prominent Teesside businessman, managed to get together £1.2million to plough into the club.

But there's a catch. Stelling & Co also announced they require a further £600,000 to proceed with any bid to gain control at Victoria Park.

The Mail understands the duo's money has been raised primarily to run the club for the foreseeable future and would not be used to pay up the debt to Sage Investments in the short-term.

Although, Blackledge and Sage will not walk away without assurances about payment further down the line.

Duxbury has revealed she is right behind Stelling's group.

The Pools chief hopes potential investors, whether hand-in-hand with Stelling or by any other means, come forward before it is too late, warning them against showing their hand only when the nightmare scenario of administration is underway.

"I wholly endorse Jeff's appeal," she told the Mail exclusively.

"I know that Jeff has been working tirelessly behind the scenes to try and match investors to bring a solution together.

"Time is running out and there are a number of potential buyers that I believe are waiting for administration.

"Administration will offer no solutions or reduce the burden of debt, as creditors have to be paid in full in accordance with the National League rules.

"I would encourage anyone considering joining in to make contact with Geoff Cunningham at Walker Morris."

Lifelong Pools fan Stelling has made a heartfelt appeal for investors to buy into the Hartlepool United dream and join his bid to save Pools.

But as well as needing a cash boost to get a deal done, the statement, released yesterday, hinted that potential legal action against the club could put a spanner in the works.

It stated: "The club is working on an issue involving outstanding litigation to ensure any new owners would start with a clean sheet."

The Mail has learned that is a sticking point for a number of interested parties, including the potential investment from Scandinavia.

Stelling added: "We have done due diligence and any serious investor is welcome to look at the report.

"We have been working hard on this for the past couple of months, but we now feel we need the extra funding within the next week or it may be too late.

"Our money is there and waiting if we can find the extra funds. But time is running out. Though it breaks my heart to say it, I don’t believe the club can survive much longer. The club needs investment – and it needs it now.

"I can’t bear the prospect of this club going to the wall. I just hope there are some wealthy individuals or businesses out there that may feel the same. The town would be forever grateful.

"I can’t promise you this is no risk. It is football so there is always a risk. This is a not a get-rich-quick scheme but if anyone else shares our dream, then this is the time to come forward."