Businessman takes control of Accrington Stanley
SHAREHOLDERS in League Two football club Accrington Stanley have backed a proposal for significant new investment to be made into the club.
More than 70% voted in favour of a deal which will see local businessman Andy Holt clear £1.2m of old debt and secure around £600 000 of new capital for the long-standing Lancashire club.
The deal, which is subject to ratification by the Football League, sees Mr Holt become a director of the club and he and his company What More UK will hold more than 75% of the club’s shares, giving him a controlling interest.
Peter Marsden will remain as chairman of the club as part of board of five.
Marsden told the club website said: “Andy’s involvement is the best thing to happen to Accrington Stanley. “Andy is a successful local businessman, he is self made and frankly a good bloke. He came on board as the club sponsor and has caught the Stanley bug.”
Manager John Coleman said: “We are on the brink of possibly the biggest moment in Stanley’s history and it couldn’t be a better time to be a supporter, manager or player here.”
Holt, who owns main club sponsors Plastic Box Shop and Wham, said: “The big thing is clearing the debt. This way it is squared off and we can look at ground improvements, growing revenue and increasing the crowds. It won’t happen overnight but we are putting plans in place.
“This club needs help and we are in a position to help so why not? It will be good fun. If we can get rid of the debts and break even without winning the FA Cup final then that would be a good achievement.”
