Downing doubts Stafford takeover

Stafford chairman John Downing is urging shareholders to hang on to their stakes in the club despite a mystery consortium offering to buy them.

A letter sent to shareholders by Birmingham-based accountants Law & Co said: "We represent a group of true supporters of Stafford Rangers."

But Downing told BBC Radio Stoke: "My advice is to hang on to the shares.

"If someone wants to come forward and claim ownership of this letter then we'll treat it seriously."

The Boro have been taking steps to avoid sliding into administration since December.

As part of cost-cutting measures, manager Steve Bull was relieved of his duties and a number of players left the club after rejecting a substantial pay-cut.

The letter from Law & Co states that the financial uncertainty has been "detrimental to the future well-being of the company and the football club."

It refers to the group interested in buying the club as "the Proposed Purchasers" and say that if successful they will appoint directors they feel will lead the company out of it's present difficulties.

The letter also says the group will involve fans, including the appointment of a fans' representative to the board, to ensure a cross-section of opinion is heard and that supporters have a say in the day-to-day operation of the club.

They will ensure survival in the Blue Square North this season and re-group in the summer to assemble a team capable of promotion next season.

The group will then prepare a 10-year business plan with the aim of establishing the club in the Blue Square Premier and the promotion to the Football League.

The letter also states that the group are considering making an offer of 50 pence per share to anyone who holds a stake in the club.

It concludes by saying: "There is much work and expense in preparing a formal offer.

"Before proceeding, our clients wish to find out if there is a desire amongst shareholders to allow a group of people who have the best interests of Stafford Rangers uppermost in their thoughts to take the club forward."

However Downing said he is less than convinced that the offer is genuine.

"At this moment in time I am treating it as a mischief because no-one has put a name to it," he said.

"If anyone wants to claim it, let them come forward and present themselves and we'll take it more seriously.

"Everyone is asking why these people have remained anonymous because if you are going to be successful in life you have to be honest."