Rochdale is expected to be saved from the threat of liquidation by American investors. The National League club has received a number of approaches since announcing it could go out of business and plans to enter a period of exclusivity with one bidder.
This will give both parties a grace period to finalize the deal, and will also give potential investors, who have not been named, an opportunity to conduct due diligence. The Greater Manchester club needs an investment of £2 million to keep it running.
One hurdle to overcome is a change in the shareholder structure, with a vote to be held on March 7 to determine whether 90% of the shares can be sold in one deal to help the fan-owned club take over smoothly. It’s planned. “Let me be clear: the survival of Rochdale AFC is at stake,” Rochdale chairman Simon Gage said last week. “The opportunity to deliver a long-term future is now in the hands of shareholders.”
There are major concerns that if the takeover is not completed, the club could cease to exist by the end of the season and could run out of money before the March payroll deadline. Mr Gage has pumped in £566,000 to keep the club running but has reached his credit limit.
The team is in 11th place in England’s fifth tier, nine points adrift of the play-off places.
