Gretna offer received by administrator

Scottish Gretna could have one final lifeline, as an offer to buy the club could save it from extinction.

Glasgow businessman Paul Davies has been known as the only party interested in the club, but it is not confirmed the final offer is from Davies. Administrator David Elliot confirmed receiving an offer from a solicitor, and said he was awaiting a three-year business plan from the interested party.

The club has been in administration since owner Brooks Mileson was hospitalized with a brain infection. Mileson no longer could put money into the club and it went into administration.

Gretna was bankrolled by the league to stay afloat, receiving advances on its parachute payments. The payments ended at season's end, and the club still has a GBP 4 million debt.

The club has made its staff redundant, and will close business if someone does not purchase Gretna. That would end a dazzling run for the club which rolled through the lower tiers until landing in the Premier League.

A buyer needs to show administrators that he has sufficient funds and a plan to have a home pitch that would fall in line with Scottish Football League guidelines.

Should Gretna pass into extinction, promotion play-off losers Airdrie United would take their place in Division One, with Stranraer moving up to Division Two. Applications would be invited for a new club to join Division Three.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.