This will provide a window of time for both sides to complete a contract and allow World Soccer Holdings to carry out due diligence. World Soccer Holdings has reportedly signed a letter of intent to purchase the club, according to Rochdale. In order for the club to stay in operation, they need to raise £2 million.
See also: “It is bleak”: Rochdale struggle to survive in the wake of Ratcliffe’s £1.3 billion contract
A obstacle that needs to be cleared is a modification to the shareholder structure. A vote to determine whether 90% of shares can be sold in a single transaction to facilitate the takeover of the fan-owned club is set for March 7. Simon Gauge, the chairman of Rochdale AFC, stated last week that “to be clear, the existence of Rochdale AFC is at stake.” “The shareholders have the chance to provide for a long-term future now.”
There are genuine worries that if a takeover is not completed, the club might not exist by the end of the season and that there would not be enough money by the time March’s payroll is due. Gauge possesses helped keep the club running by injecting £566,000 but has reached his credit limit.
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