As the Club made clear in its press release dated 03 November 2010, it is investigating various transactions involving Stags Limited. Those transactions include the transaction whereby Stags Limited became the owner of the Field Mill Ground and therefore the landlord of the Club. The Club continues its investigations and has written to relevant parties asking for clarification and explanation with regards to that and other transactions. The Club has not yet received any substantive responses to its queries and therefore its investigations are ongoing.
As a result of its investigations to date, the Club made it clear to Stags Limited that it would not be paying rent directly but instead made an open offer to pay the outstanding rentals into an escrow account controlled by Stags Limited's solicitors. These monies would have been released upon the parties agreeing terms, the investigation being concluded or if a Court ordered that they should be.
This offer was made to demonstrate that the Club was not seeking to avoid its obligations but simply wanted to ensure that the right and proper investigations, in view of the Club's serious concerns, were concluded. This offer has been refused by Stags Limited and the Club is very disappointed that Stags Limited has today felt it necessary to take the extreme step of terminating the lease at the Field Mill ground.
We would like to reassure all fans that we will be making alternative arrangements for upcoming home fixtures, and ask for patience and support during this investigation and any ensuing legal proceedings, which we believe to be in the best interests of the Club.
We hope that the matter can be concluded quickly and that any monies removed from the Club either illegally or inappropriately are returned to the Club. If the matter cannot be resolved then the Club will not be held to ransom by any party and will take whatever steps are necessary to ensure the right resolution to this matter.
