Owners IOR want to buy back the lease on Victoria Park

Increased Oil Recovery Ltd (IOR) "will now consider their position with regards to future investment in Victoria Park", a club statement reads.

"The support and investment by the owners has been substantial, and into premises that we do not own.

"Future investment of any kind needs to be into an asset owned by IOR."

Any decision to sell the land would be premature Councillor Stanley Fortune

The statement continued: "Many years ago, the council bought the ground from the club at a very good price, when the club needed the money and the council's support.

"Now, the club has asked for the council's support again to return the lease to the club.

"The club owners have offered a very good price for the lease, which still has over 60 years to run, during which time the land can only be used as a football club."

Councillor Stanley Fortune, chairman of the committee set up by the council to consider the offer, told the Hartlepool Mail: "After careful consideration, we have decided to decline it.

"There is the potential for significant redevelopment of the area around the ground, but exactly what that could entail is unlikely to be clear for some considerable time.