Next seven days crucial for Hartlepool United takeover

Last week, six potential investors and consortia signed non-disclosure agreements, which allow them to look over the books.

And the Mail understands that of that group, all of whom provided proof of funds, two have taken a step back from proceedings with four emerging as real credible potential sources of investment and frontrunners to take over at Victoria Park.

Over the course of the next week managing director Pam Duxbury (pictured), a chartered accountant by trade, and Paul Watson, who has extensive contacts within football through his consultancy business, are set to be camped at the Vic, working around the clock to get a potential deal over the line, with the help of the club’s solicitors.

Cash is tight at Pools and while these kind of deals can often take weeks, even months, to get signed and sealed, there is a real urgency about wanting something done sooner rather than later in this case.

Due diligence is something that can delay the process, with any potential buyer needing clear assurances that the books at Pools are all correct and present.

It’s understood this should not prove to be a sticking point in the process, with Watson’s extensive cost cutting measures in the summer on the playing side, Duxbury’s hard work to get paperwork in order and the consolidation of debts, run up by previous incumbent Gary Coxall, under the Sage Investments banner of John Blackledge, all major positives.

The fit and proper persons test for owners also has the potential to hold things up.

But the Mail has learned that club solicitors have already begun checking potential new owners against the FA rules and guidelines.

Anyone who came forward with proof of funds and signing an NDA was checked for criminal records or for history of insolvency actions involving any previous football club, prior to getting the nod to look over the books.