BLYTH SPARTANS TAKEOVER: A NEW BEGINNING OR A FALSE DAWN?
WRITTEN BY TOBIAS LUKE PHIPPS ON 22ND FEBRUARY 2024

A new era began at Blyth Spartans yesterday as Irfan Liaquat’s takeover of the club was announced, but who is the new owner?

The takeover comes following a tricky few years at Blyth, the Spartans currently sit 15th in the National League North, having narrowly avoided relegation in the last two seasons with consecutive 19th place finishes.

James Raine, of the North East non-league show, said: “This is massive news for Blyth Spartans. The past few seasons have been low for Blyth starting with the Lee Clark season followed by the great escapes.

“You look at other clubs in the area like South Shields, who are looking to progress and teams such as Blyth are getting left behind by teams and specifically attracting players.”

In his first press conference after taking over Liaquat said: “The vision is to get them (Blyth) right up there at Championship level, but that will happen over time,” before adding: “We’re not naïve, we know we have to work hard to achieve that goal but we’re going to take it on a step-by-step basis.”

Mark Carruthers, a North East football writer, said: “Reaching the Championship is something very, very few non-league clubs have ever managed to achieve.”

“Ambition is never a bad thing, indeed every club should show that, but it needs to be realistic and given the costs that it would require to reach such a level, not to mention the sporting challenges they would have to overcome, I would suggest such a target at this point in time would be unrealistic.”

There are also concerns about Liaquat’s legitimacy.

The 41-year-old is currently Chairman of Winners Worldwide Limited, which is described on Liaquat’s website as: “a UK-based trade and investments platform that allows investors to grow their wealth on an international scale.”

However the company, which was founded in March 2023, has just one share which is valued at one pound, according to Companies House.

Companies House also confirms Liaquat has been the director of at least two companies that have been dissolved, City Blue Investments LTD and Million Dollar Listings LTD. 

“I have witnessed a few horror stories in over a decade of working in North East non-league football and although it is not for me to suggest Spartans could follow a similar pattern, I do believe there is a need for further clarity and for actions rather than words, to be shown by the owners,” Carruthers said

And we’re NOT outside the drop zone ….

I think you will find we are:

20   King's Lynn Town   
21   Rushall Olympic   
22   Gloucester City   
23   Darlington      
24   Bishop's Stortford

Disappointing to drop two points after Tuesday’s excellent result. On the plus side we move out of the bottom 4 ( thanks Sport) and the gates seem to be on the up at 800.  Can’t complain about the fans not turning up.

 

Turned up where?

Is it really that unusual at this stage of the season to hear of Clubs in trouble.  Always seems to strike post Christmas.  Didn’t our own SC say we were gone by the end Jan if no new money was found ?

While you have people who always seem to feel they know how to make a Non League Football, successful, they always seem to reach the end of the road having had their fingers burnt.  It’s amazing really as it tends to be businessmen who have made decent money in their field yet all business logic seems to go out of the window once they walk into a Football Club.   Strange, as these business people didn’t get where they are by allowing their company’s to haemorrhage money.

Way beyond me.

Mallard.

Are you a Ghost writer for Cleeve these days, have contacts at Rouen Road, or know someone in the know at the Club?

Having just read Cleeve's article in the Norwich paper, it seems the post you made yesterday touched on the same matter as Cleeve does today!

If its none of the above, can you give me your thoughts on tonight's lottery numbers please?

 

Quote from: Fosters Cigar on February 23, 2024, 08:54:02 PM

Does anyone know if he has actually made an investment?

SC’s EDP column should answer your question Cigar.   Seems our owner keeps repeating his need of the loan he took out to be written off and for money to be given for him to fund his hobby.

Mallard. Will you please lend me a Fiver?

I'm not sure I'll be willing to pay it back though.

Its still a good deal for you though.

When the money runs out (part 2).

“The existence of Rochdale AFC is at stake” – chairman warns club has just six weeks to find investment


Rochdale AFC has until the end of March to find an investor or be forced into liquidation, its chairman has warned.

The bleak announcement revealed that the club is looking for an investor to gain 90% of the club at a cost of £2 million so it can continue.

Chairman Simon Gauge – who became involved in the club in June 2021 – has put in £566,000 over the last few months to keep the club going, but says he has now reached his credit limit.

Without investment, the club will be forced into liquidation after years of “perilous” finances.

The 117-year-old club is currently playing in the National League after being relegated last year. The move brought an end to 102 years in the Football League.

In a statement, Gauge said Dale’s “major asset” was the stadium, but had “little else of financial value.”

Describing the club as “asset-rich and cash-poor,” he revealed he and his family have subsidised the club with £566,000 to “buy time to find investment to take the club forward.”

He said that, had he and his fellow directors “been fully aware of what they were taking on” after the club was relegated from League One and the post-Covid period, “we would not have got involved.”

He added: “We would certainly have gone nowhere near the club had we been aware of the hostile takeover attempt that followed.



 


 

Gauge explained there have been several barriers to investment, including “club management, level of debt, the financial situation and uneconomical leases.”

An EGM has been called for shareholders on Thursday 7 March at the Ratcliffe Bar to try and agree to the proposals, including the creation of nine million new shares.

Gauge said: “We are in talks with interested parties, but they will not move forward until the conditions for investment are in place.

“In an ideal world, we would have an investor in place before calling the EGM, but we do not have that luxury of time. This EGM is essential to achieving the required conditions that an investor wants.

“If we move to a period of exclusivity with any party before the EGM, we will disclose this to shareholders.

“This resolution needs to be passed at the EGM for us to have any chance of securing the required investment that will ensure the long-term future of our club.

“If it isn’t passed, the threat of liquidation at the end of March is very real. The passing of this resolution does not guarantee saving the club, but it will certainly give it a fighting chance.

“To be clear, the existence of Rochdale AFC is at stake. The opportunity to give a long-term future is now in the shareholders’ hands.”

When the money runs out.

Torquay United are to go into administration after owner Clarke Osborne said he can no longer fund the National League South club.

The Gulls, who are 11th in National League South, have been owned by Osborne since 2016 after he bought the club from a fan-led consortium.

In his time Torquay have twice been relegated to the sixth tier.

They missed out on promotion to League Two in 2021 after losing to Hartlepool United in the play-off final.


Osborne has also stood down as club chairman and the club is set to be deducted 10 points, dropping them from 11th to 18th in the National League South table, four points above relegation to the Southern League.

"It is with sincere regret that I advise that circumstances beyond my control during the last five weeks have brought me to the position that I an unable to continue financial support for the club and I have today filed on behalf of the directors an intention to appoint an administrator for the club and company," Osborne said in a statement on the club website.

Osborne had kept Torquay afloat - the last set of accounts show loans of almost £4.3m to the club.

It is expected that that figure is likely to be well past £5m with new accounts for the year to June 2023 due soon.

"The financing of football in this country is precarious and can only thrive in the lower divisions where there is either a close collaborative relationship with the local authority, it is a trophy asset or is backed by substantial local individuals and businesses," Osborne added.

"I believe that it needs a fundamental overhaul of its financing structure, rights distribution in the lower leagues and recognition that many clubs represent a fundamental part of the local community and its visitor attractions.

"Ambitious clubs should, in my opinion, be given special status in their push to bring in investment, develop facilities, bring spend and employment to the local economy."

The decision leaves Torquay searching for a fourth owner in less than a decade.

The Gulls got to the League Two play-off final in 2011 under a consortium backed by the money of late lottery-winning supporter Paul Bristow, whose widow Thea eventually assumed full control.

She sold the club for £1 in May 2015 to a consortium of local business people, but they did not have the finances to sustain the club and it was sold in December 2016 to Osborne through his firm Gaming International, which set up Riviera Stadium Limited as its parent company.

But Osborne's tenure at Plainmoor has been controversial.

He outlined plans for a new stadium but they never got any further than meetings and artists' impressions.

Gaming International also owns Swindon's speedway team and his plans for a new stadium for the club have also never borne fruit, while he was also part of a group trying unsuccessfully to build a ground for Bristol Rovers when the club sold Eastville to the furniture firm Ikea.

"He's an absent owner, he doesn't come and watch matches," Torquay United Supporters Trust chairman Nick Brodrick told BBC Sport, ahead of a planned protest against Osborne's ownership scheduled for Saturday's home game with Aveley.

"We are very vigilant as the Trust. We have a strategy group that's been meeting regularly for the last two or three years and we have plans for any particular scenarios that might develop, like administration, liquidation, or whether it might even result in having to for a phoenix club.

"We have plans for all eventualities depending on what happens with Mr Osborne's decisions about the football club."

But, in his departing statement, Osborne was still adamant that a new stadium was key to the club's future.

"The prospect of creating a new stadium and commercial facility was the driver for the investment, the excitement to deliver something truly transformative for the club and Torbay," he said.

"I would reiterate what I have said many times, that Torquay United is blessed with fantastic, passionate support and I am sorry that we have not been able to reach our goal for the club and fans, despite significant effort and investment."

He added: "Now is the time for the club, supporters, Torbay community and the Local Authority to come together and continue on the path to the future.

"I will assist a change of ownership where and when invited. The detailed plans, proposals and related data for the proposed developments will be gifted to the club as will any time requested to assist in the future planning and development."

The club says all money that it earns from now on will be used solely to run the football club adding "legal and administration fees will not be paid from the operational cashflow".

Have to think the strengthening of the squad is directly linked to ‘Joe’ having backed the Club.  Last nights result is all down to the new money beginning to bare fruit.

Yes. It looks as if Joe is going to reap the rewards of his investment.