At the meeting Swan said he wanted to buy 100% of the shares, even though he only needed 76% to have ownership of the club which would've been provided if he had bought Aggborough Holdings, and another large shareholders, stakes in the club. After deliberation to consider the board said this wasn't possible due to some shareholders no longer being with us and therefore not being able to sell their shares.
Ernie Lane then offered the Premier Group's shares in an attempt to swing the deal in favour of Mr Swan but after other negotiations that including him revealing that he wouldn't pay off any of the clubs debts, or any of the directors loans and investments off, Swan withdrew his offer and is out of the picture.
For now! He wants 100% or nothing.
His plan for the club was stated by himself to get Kidderminster Harriers promoted back into the Football League as soon as possible and one benefit of that would be that the club would receive an £800,000 promotion payment. He did not say what would happen to that payment but the money could be invested in the club or used for other resources.
There is the possibility that sooner or later we would be relegated if the money was not invested back into the club and in that case the £400,000 two year parachute payment would come in handy. This could amount to £1,600,000 over a possible three seasons if it occurred - partly like the West Bromwich Albion model currently, but god help us if that was ever to happen.
The plan now seems to be to go it alone without the Warwick based businessman because there could be £50,000 pounds on its way into the club from one prospective director and another amount of the same value has been mentioned from a possible source but this is in the early stages.
This would still leave us £50,000 short of our £150,000 aim for December/January and we would still need to find an improved income stream for the remainder of the season if we do happen to survive and swingeing Conference League punishment for our misdemeanours that are still being investigated as we speak.
We must not forget too the efforts of the fans and KHIST in helping us to stave off any kind of detrimental takeover and also in helping us to secure our own future.
An interesting snippet mentioned about Chris Swan is that he seems to becoming something of a serial buyer of dead ducks. In recent years he has tried to buy Bournemouth, Stockport, York City and Scarborough. All four dying or dead clubs have apparently decided to reject his advances because maybe they didn't want someone coming in that would promise them the earth and then alienate their own fans and existing directors by bringing his own board of non football people in and then proceed to asset strip the corpse.
Sorry Mr Swan. The duck ain't dead yet.
Photo © Chris Swan