Now it’s back to business
ORIENT chief executive Matthew Porter insisted it s business as usual following the collapse of takeover talks last week. It appears that the bid, led by David Beckham s agent Terry Byrne, who was set to become the club s new chairman, is now dead in the
ORIENT chief executive Matthew Porter insisted it's business as usual following the collapse of takeover talks last week.
It appears that the bid, led by David Beckham's agent Terry Byrne, who was set to become the club's new chairman, is now dead in the water.
So Barry Hearn, who has been at the helm for the past 14 years, will carry on as chairman, even though he is prepared to sell the club to any serious investors.
It looked as though a deal had been finalised when the club called a press conference, but an 11th-hour hitch caused it to be postponed and the deal finally collapsed last Thursday.
In a statement the club said: "Following confirmation that chairman and owner Barry Hearn was in discussions with a consortium regarding his shareholding in the club, the parties have been unable to reach an agreement over terms and have ceased negotiations."
Porter confirmed that those negotiations are now totally dead and with no new consortium on the horizon, Hearn looks set to continue at the helm.
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Now the main objective is to preserve the club's League One status and Porter said: "After all the rumours and speculation of recent weeks, everyone at the club remains 100 per cent focused on maintaining our League One status for next season.
"It's very much business as usual."
Although takeover talks have ended, it seems certain that Matchroom Sport will press on with the plan to acquire the leasehold interests of the ground for a sum of six million pounds.
The club would then lease it back from Matchroom Sport.
The proposal has angered some supporters and LOFT, the Leyton Orient Fans Trust, are seeking to halt the stadium sell-off.
LOFT are calling for a halt to the proposal to allow time to clarify the effect of the sale on the long-term sustainability of the club and to find out more details regarding the long-term home for Orient.