Mystery consortium bids for Rangers

A mystery consortium could be on the verge of snatching control at trouble hit Stafford Rangers.

Shareholders have been targeted with a letter asking them if they are prepared to sell up.

It has been sent out by Birmingham based accountants Law & Co, who say they represent "a group of true supporters of Stafford Rangers."

The letter, sent to 407 people listed as shareholders, adds that the group is considering "making an offer for your shares at a price of 50p per share (par value) in Stafford Rangers Football Club Limited."

It has been greeted with scepticism in some quarters. Phil Bennett, secretary of Stafford Rangers Independent Supporters club (STRIPES) and club chairman Jon Downing both want to know more about who is behind it.

Mr Downing commented: "If they would like to get in touch with the club and tell us who they are and what they have have to say we will talk to them.

"I have not got a clue who is behind it."

Mr Bennett said: "If they are true supporters and we know and can trust them that is fantastic and the fans will be behind them.

"One of the things we have been pushing for is to get supporters' representation on the board and that is apparently one of the things they are offering.

"What we have to be wary of is at the moment is we are in recession and if some group came in and acquired a majority shareholding what happens five years down the line, when we are out of recession and prices escalate? Would they then want to pull out and sell the ground? The last thing we want is houses on Marston Road."

The letter states that everything that has happened at the club over the past few weeks, the releasing of Steve Bull and many players through lack of finances to pay them, has been detrimental to the future well-being of Stafford Rangers.

"As a result the proposed purchasers wish to acquire control of the company in order to save it from further embarrassment and possible further financial problems," says the letter, signed by Keith Peters of Law & Co.

He adds that if successful, the group plans to appoint directors it feels would lead the club out of its present difficulties and involve fans, including the appointment of a representative to the board, to ensure a cross section of opinion is heard.

It would ensure survival in the Blue Square North this season then regroup in the summer and assemble a team capable of promotion next season.

Mr Peters, a partner in the chartered accountants, said they were acting on behalf of the people behind the bid, adding: "I can't confirm who is involved at this stage."

He said there had already been a response to the letter from some shareholders.

A reply form asks the shareholders to indicate if they are willing to sell, whether they want to retain their shares and support the group or whether they are happy with the way the club is run and want to keep their shares.

It is understood that whilst the club has debts in the region of £200,000 the land at Marston Road would be worth £3 to £4 million for development.

Under the club's constitution no one person can hold more than 50 per cent of the shares which is why a group, probably of at least three or four, would be needed to take the helm.