Owner Wyn Holloway has told Merthyr's Supporters Trust he will relinquish control to them if they take over the Welsh club's estimated £315,000 debt.

The Martyrs To The Cause have tabled an improved bid to Holloway but he insists he will not sell unless they shoulder Merthyr's burden.

"They want me to pay off the debt then let them take over the club, that is not possible," Holloway told BBC Sport.

"If I was to pay off the debt, I'd keep the club myself."

Holloway has confirmed Merthyr Tydfil FC is "under serious risk of closure" because of its crippling debts.

The Southern League club has no power at its Penydarren Park ground and has to use a generator to power the floodlights.

Championship side Cardiff City played a fund-raising game at Penydarren Park earlier this month as the three-time Welsh Cup winners battle to survive.

And Holloway, who has rejected previous take-over bids, revealed: "The Supporters Trust said they would give me a £1,000 a month for the next 15 years but that is not acceptable to me.

"I don't want them running the club when there is debt still in my name.

"I have put in a lot of money in my ten years running this club, when I took the club out of receivership.

We feel it is not viable to run a club with that level of debt but would consider a more manageable debt to run the club successfully Martyrs To The Cause Supporters Trust secretary John Strand

"I have spent about £800,000 on the club and I didn't spent it to get it back but I would give the club away if they assure me that they will take over the debt.

"I want them to take over the guarantees I have made, but they won't do it."

Supporters Trust secretary John Strand insists his 80-member organisation - which has funds of between £30,000 and £40,000 - could not run a successful club with a debt in excess of £300,000.

"We are willing to negotiate a deal with the owner," said Strand.

"The offer of £1,000 a month for 15 years was made by a member in an open meeting and was not a formal offer by the Trust board.

"We feel it is not viable to run a club with that level of debt but would consider a more manageable debt to run the club successfully."

Holloway, though, added: "I haven't seen a business plan, whoever wants to take over this club would have to put one together.

"Ten years ago the previous owner was the big bad wolf, now I am the big bad wolf but there is no no sponsorship coming in due to the global economic crisis."

The 64-year-old Martyrs - whose players have suffered spells without being paid this season - would risk a fine and possible points deduction if they failed to fulfil a fixture.

Owner Holloway admits he has no more money to finance the Martyrs, insisting: "I haven't got a bottomless pit."

Merthyr, a famous non-league club, enjoyed their most glorious day beating Italian club Atalanta 2-1 in the first leg of their tie in the European Cup Winners Cup in 1987.

The Martyrs played in the Conference, just below the Football League, for six seasons until 1995.

E-mail this to a friend

Printable version