Millionaire pulls out of deal to buy Cannock Cricket and Hockey Club home
The multi-millionaire who bid £1.45million to buy the home of Cannock Cricket and Hockey Club has pulled out of the deal.
Mo Chaudry, owner of the the Waterworld leisure complex in Stoke-on-Trent, pulled out of the deal to buy the Chase Park site days before the deadline to complete the purchase.
The 58-year-old entrepreneur won an online auction via his M Investment Group company for the site following a bidding war after receivers were called in following a wrangle between Sport England and another developer of the length of leases being offered to the cricket and hockey clubs to stay at their home of nearly 30 years.
Cannock Cricket Club and Cannock Hockey Club remain operational but are being forced to play their games at other grounds while they seek a solution.
Mr Chaudry told the Express & Star last month that his plans for the site would ‘evolve’ – but they have come to nothing.
He declined to comment on the decision to pull out of the deal.
The announcement comes as a further blow for the clubs while they await news of the future of the site.
A statement to members of both cricket and hockey from clubs from the executive committee of Chase Park said: “We regret to inform all concerned parties that The M Investment Group has withdrawn from the proposed sale of Chase Park following last month’s auction.
“We are in contact with the receiver and will provide further information as soon as possible.”
