13 Feb 2009Weymouth to offer 50p shares

Football Clubs News | Football Finance News

Senior Weymouth officials revealed yesterday (February 12th) that they are to launch a desperate share scheme in an attempt to save the club, BBC Solent reports.

A proposed takeover bid, led by former Cambridge United chairman Lee Power and Colin Hill, brother of ex-boss Garry, has been described as "dead in the water" by chief executive Gary Calder.

As a result, the troubled Blue Square Premier side have decided to issue a million shares at 50p apiece as the club looks to pay off debts totalling £300,000.

Calder told the news provider: "The talking's got to stop, if they don't [sell] we'll have to make a tough decision early next week."

Around 400 fans turned out at the Wessex Stadium last night as the club - which has failed to pay its players so far this year - announced the decision.

Weymouth were promoted to the Blue Square Premier after winning the Conference South in the 2005-06 season and finished 18th last year.

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