Hartlepool United’s potential investor pulls out to leave the club’s future further in doubt

By Jon Couch
The future of troubled Hartlepool United has been plunged into serious doubt once again after a potential ‘saviour’ pulled out of a deal to save the club.
Hartlepool-born businessman Chris Musgrave had been in discussions last week with Christopher Akers-Belcher, leader of Hartlepool Council, but the Northern Echo are reporting he has decided to end his interest after delving further into the club’s finances.
Fans have rallied round to raise a £200,000 VAT bill – due on Thursday – but Musgrave’s withdrawal has now left the club facing administration and, with it, a possible points deduction which could seriously threaten their National League status.
A crowd of 6,800 packed into Victoria Park for the visit of Wrexham on Saturday – an occasion marked as Save Pools Day with the town and the football community all coming together in support of the club, who were relegated from the Football League for the first time in their history last year.
Now, however, it seems they face another week of uncertainty with the club – who are losing around £130,000 a month – desperately trying to keep the administrators at bay.
Although there are other interested parties, Musgrave was believed to be the only serious contender to save the club with the threat of liquidation looming large if a new buyer can’t be found.
Musgrave said in a statement: “Some weeks ago, I was approached by Christopher Akers-Belcher, the Leader of Hartlepool Council, to consider the prospect of buying Hartlepool United Football Club, so that it could be saved from financial ruin.
“It was clear to me that the Leader of the Council and his officials, intended to do everything possible to secure the long term future of the club, due to its social and economic importance to the town.
“On that basis, I agreed to entertain the possibility of purchasing the enterprise, providing the financial challenges were such, that I could accurately estimate the financial sum I would be required to inject into the club.
“I know very little about the game of football and I am not a football enthusiast, but I do understand the importance of the club to the town, as it has been an integral part of the community for over 100 years.
“It would be a sad day for Hartlepool, if such a vital asset was lost. No one wants to see that happen and I have been impressed with the spirit of the supporters and wider public in their efforts to save the club.
“I have had the good fortune to have been successful in business, for over 35 years and I do have substantial experience in making loss making businesses – profitable.
“Over the past two weeks, I have held meetings with officials of the Football Club, the Council and other parties, which has allowed me to interrogate the historical decision making of Executives of the club, with regard to the financial position in particular.
“I have concluded, that the financial challenges facing the club are serious indeed, but I have not been able to identify the exact amount of cash I would be required to make available to save the club. It has therefore been impossible for me to prepare a financial rescue package or a plan to deal with the long term, which is disappointing.
“No one has ever made money out of this club. That was never my intention and I was prepared to provide finance to the value of over £1.5m, but I am not prepared to sign blank cheques, with no end in sight.
“As it stands, I do not intend to provide any funds to the Football Club, for reasons within this statement, but I do hope the club will saved.”