Global offers to buy Stevenage FC turned down by chairman Phil Wallace
PUBLISHED: 17:28 02 April 2019 | UPDATED: 17:28 02 April 2019
Danny Loo Photography 2015
Stevenage FC chairman Phil Wallace has confirmed that he has turned down offers to sell the League Two club following a call for investment earlier this year.
In an official statement posted on the football club’s website, Mr Wallace confirmed that their had been global interest in the club after he opened it up to investment for the first time in 20 years in February.
However, he said that the interest had been in buying the club, something which he is not interested in.
“Following my call for investment earlier in the year, I have spoken to interested parties in China, in the USA and Canada,” said Mr Wallace.
“Although these were very interesting calls and meetings with some very interesting people, they wanted to purchase 100 per cent of the club which is not something I am currently pursuing.
“I am looking at various options and believe I will be concluding something this month or at the latest, in May, so that we can take advantage of the summer window to bring a few targets in.”
This was something that Mr Wallace made clear in his initial call for investment, saying: “I have been here 20 years this summer and, when we finish the North Stand this year, I will have fulfilled most of my personal infrastructure ambitions for the club.
“I have no intention of leaving just yet, but I would much rather enjoy some years of Stevenage being a bigger spending club, attracting new supporters and aiming for the Championship. To do that, we need additional funding.”
Mr Wallace saved the club from liquidation when he arrived in 1999. Since then, he has helped make Stevenage a Football League club, built a new training ground at Bragbury End and develop a successful academy that has produced players such as Ben Wilmot – the club’s first £1 million sale when he joined Watford last summer.
“To compete seriously at the top of League Two would require an additional £1 million per year on top of the playing budget,” he continued.
“We are an attractive proposition. We are 20 minutes from London, we made a decent profit last year, we have a modern stadium and some great young players coming through that could be very valuable.
“Whether we sell 10 per cent or a bigger stake depends on who it is and what their plans are.”