Pools fans to vote on funds plea to estranged owner
Hartlepool United board members have asked owner Raj Singh to commit to further funding, with a takeover of the National League club still in "limbo".Singh put the club up for sale in April 2023 following their relegation from the English Football League and resigned from his role as the club's chairman in March this year, stating his decision came amid abuse from a section of the club's fan base.The club previously said it would not be sold before the end of the 2024-25 season as Singh promised to fund player and staff wages until the campaign concluded.However, in a statement on Wednesday, Hartlepool stated they are currently behind with critical planning for next season as a potential takeover drags on.A statement, external added that the club would be asking season ticket holders to vote on if they would like Pools to take assistance from Singh going forward - a vote suggested by the owner himself."Mr Singh has made no formal commitment to step in as chairman or principal funder," the statement said."He highlighted that he could do so only if supporters want him to assist, and he was very mindful of prior supporter requests for him to step down. He has suggested this should be a decision for supporters and not the board."Hartlepool recorded an 11th place finish in the National League this campaign, in their second season since relegation from the EFL."Without external funding support and a more stable environment to work under, the club will inevitably fall yet further behind with both on-field and off-field planning, which could ultimately threaten its very existence," the statement added."The club is already running the risk of failing to prepare for next season which could become unrecoverable in a very short period of time. The club's retained player list must be decided upon by Saturday and squad planning is well behind where it should be due to the current limbo position."Much of the good work that has been done over recent years to put the club on a stable footing hangs in the balance. In summary the board feel that the club can wait no longer and must act now."
'No party has proof of required funds to operate club'
Hartlepool also revealed that a further revised deadline had been missed by a potential takeover party."This party had their original proposal and offer accepted by Mr Singh in the second week of March but have since missed deadlines to deposit agreed funds," the club said."In the party's original offer they identified a target exchange date in April which was missed and subsequently a second target exchange date in May which is now unrealistic given the inability to deposit funds."Like with most National League takeover propositions, a prominent consideration and due diligence item for any prospective owner is the level of funding required to sustain and progress the club next season, and indeed year on year beyond that."Still at this stage no party has deposited the required proof of funds to a level to operate the club next season."
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