Distillery ground sold for £450,000

A bid from Drumvale Investments, which is based in Drumbeg, was accepted by the shareholders at a meeting and now McClean and Co, who are handling the Creditors’ Voluntary Agreement, are going through the process of sorting out the creditors.

“The offer from Drumvale includes a lease of 35 years for the Football Club at a peppercorn rent of £1 a year,” said club secretary Ashley Wragg. “Drumbo Park (who operate the greyhound racing) had an option to match the Drumvale bid, but they have declined.

“There are only ten weeks of the season left and hopefully it will all be sorted out at that stage.”

The CVA was put in place in February, 2010.

Tommy Anderson, a former chairman of the Whites and one of the men behind the greyhound racing, said they had understood a definite offer from a third party would have triggered a clause which would have meant they had the right to buy the ground by matching that offer.

“We understood all we had to do was match the offer from Drumvale Investments which was recently accepted by the shareholders,” said Mr Anderson. “However, we were then informed of other clauses which we would like to clarify, so at this stage we have withdrawn from the process.”

On the playing front, the Whites will be aiming to put some vital points on the board when they take on Dungannon Swifts at New Grosvenor on Saturday.

Despite the crushing defeat at the hands of Derry City last weekend, the Whites can draw on their recent league form which has been good.

Leaders Linfield face a massive test at Shamrock Park where Portadown can get within a point of the Blues.