Harriers takeover back in doubt

Kidderminster Harriers will officially answer a winding up petition later this month - as Chris Swan's proposed takeover of the club stands on the verge of collapse.

It has emerged that Harriers, who were presented with the petition on January 6, are the subject of a case brought forward by commissioners for Her Majesty's Revenue & Customs at the Royal Courts of Justice in Strand, London on February 23.

It comes with Warwickshire-based businessman Swan's takeover bid, which was accepted last Wednesday, looking in serious doubt after speculation a rival consortium has been formed to buy the club.

It's rumoured that current directors of the club are considering borrowing against the lease of the Aggborough stadium which has 40 years to run, to raise the reported £120,000 needed to keep Harriers afloat.

There are also claims that another £52,000 of debt was discovered during the due diligence process of the club's books, first undertaken by Swan at the back end of last week.

Wages are also thought to be late again this month, with those owed monies having to wait until Thursday – and even then it may be paid by cheque.

Chairman Mark Serrell was due to speak with Swan yesterday but was thought to be unwell, putting the takeover deal – which was supposed to happen before the weekend – further back.

And it might not take place at all, Swan admits.

He said: "I just don't know, one minute I think I am working on the deal and the next thing I hear that someone else is trying to put something together.

"They are welcome to it, the club is more important than anyone but I just hope they have got enough money to take it forward.

"If they trip over, I would still have a look at it, because I am passionate about the club but I am not going to do anything that hurts its future.

"However, if that was to happen, it would probably be under different terms."

Swan watched Harriers play at Hayes & Yeading on Saturday, where the team thumped their hosts 4-0 in an impressive display, and can see plenty of potential at Aggborough ut is willing to step aside if the club don't want his help.

He said: "I went along to see the match as part of the due diligence process, to take a look at the team but I have watched them play a couple of times.

"No one is bigger than the club and, if the directors don't believe it's the right thing to do, I will respect that."

Harriers chairman Mark Serrell was unavailable for comment when the Express & Star went to press today.