Final throw of the dice

Worldwide Latics fans should know their fate by weekend and it is believed that owner Chris Moore is prepared to accept a new buy out offer. Manchester based Barry Chaytow is the main investor and is offering an immediate seven figure outlay. Mr Chaytow is a former Bolton Chairman and is thought to have more money available. Chaytow was part of Michael Knighton’s attempted takeover at Manchester United and he was with Knighton at Carlisle as a director from 1992–99. His bid will be backed up by funding from the Supporters’ Trust and the new Advisory Group.

The first priority will be to pay staff and therefore prevent players from walking away from the club for free. Sean Jarvis and accountant Neil Joy are negotiating a personal loan of £150,000 from Mr. Moore which will provide club wages. Jarvis said, “We are going into major personal debt, so the terms will have to be favourable. Contrary to what certain people are saying, we would only be holding those shares (95%) on behalf of the Trust. They would be disseminated shortly after, with the Trust, the new investor and the business advisory group all heavily involved. Myself and Neil would retain a stake so that it’s available to any future investor looking to get involved. I stress that nobody will have a majority shareholding of 51 per cent or more – that’s a route we don’t agree with.”