Dickens consortium nears takeover of Welsh Wrexham

Wales' Wrexham hopes to be out of administration and into Neville Dickens' hands by the end of next week.

Officials are confident the Football League will ratify a proposed takeover bid in London Thursday, and the consortium led by local businessman Dickens will take control.

"It's been a long process, but safeguarding the best interests of the club has been paramount to all," said a statement on the Wrexham website.

Wrexham went into administration in December 2004 with debts of GBP 4 million, and were docked 10 league points.

Creditors accepted the Dickens consortium rescue plan in May to receive about 28p for every pound owed.

Under Football League rules, Wrexham had until 3 June to come out of administration or be expelled from the league. On 6 June, the Football League Board voted to accept the takeover bid and said the plan had met the 18-month deadline.

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