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Saturday, May 09, 2020

From The BN Archives - Keyte Speaks About Possible Investment

A look back to May 9th 2014. Hereford United chairman David Keyte talks about possible investment in the club.

Keyte And Possible Investment

David Keyte
Hereford United chairman David Keyte has spoken about possible investment in the club but warned nothing is yet signed.

“It's a long process that we have been involved in for some months” Keyte reports, “but finally we seem to be closing in on the finishing straight, with talks now progressing to legal documents and finer details.

“There has been a lot to consider, but we have put many hours in to trying to secure investment that would prove to be the most appropriate to ensure the long term future of Hereford United.

“Whilst I appreciate we the board have been quiet of late it is because we want to try and make sure that we only say things when the time is right.

“As we've experienced before, things can quickly and unexpectedly change and we certainly don't want to be getting ahead of ourselves. We've learned from similar situations in the past when we have commented on things that have unfortunately failed to materialise.

“At the moment I think it is right for us to report publicly that we are at an advanced stage in our negotiations with two groups of investors, one of which has taken a lead over the other and completed their due diligence this week.

“Whilst we can give that update, it comes with the caveat that things can change. We are certainly not reporting it as a done-deal, but we are hopeful that sometime next week we'll be in a position to report some much needed positive news.

“The consortium which are in pole position at the moment, are very much football minded people. They understand the difficulty in avoiding losses based on the football alone.

“It is fair to say the attraction for both sets of potential investors is that we also have the development opportunities available at either end of the ground.

“Both sets of investors share the same aims and objectives as the board of directors, and that is to run a football club within it's means, with the ultimate goal of returning to the Football League.

Keyte then spoke briefly about the current status of players and management at Edgar Street.

“We have a deadline of this Saturday to make an offer to any player  aged under 24 who we would like to re-sign in order to ensure that if that player should decide to turn down our offer and decide to sign elsewhere, we still have the right to some form of compensation.

“We are lucky to have Colin Addison as a non-executive director and I have spoken at length with him as well as with Peter Beadle as to their opinion on who we should offer deals to. It is fair to say their thoughts were very similar.

“With regards to Peter Beadle, I would like to place on record my thanks, and those of my colleagues on the board, for his efforts in helping us avoid relegation, he did a great job, together with Steve Jenkins, to turn around both the performances on the pitch and the attitudes and atmosphere in the changing room and in the stands.

“It was certainly a nail-biting final day of the season, but the scenes at full time at Aldershot rank right up their with some of my favourite memories as a Hereford fan. It was an incredibly emotional moment, for all of us, at the end of a particularly stressful year.

“In terms of where Pete Beadle stands at the moment, we have tried to keep him as informed as we can. I have said that until any investment comes off we as a board are not in a position to make any decision about his future, but it is fair to say he is highly regarded within the boardroom and I am sure on the terraces too.”

Finally Keyte spoke briefly about the recent meeting with HUST. “I am sure you have all read the statement released by HUST following our meeting towards the start of the week.

"I can only echo the sentiments expressed and would like to add that it was clear at the meeting that we are all working towards creating a better future for Hereford United."