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Last Updated: Friday, 14 July 2006, 15:09 GMT 16:09 UK
Wrexham wait on fresh beginning
Wrexham
Wrexham say that their long wait to come out of administration will have to be postponed until Monday.

The Dragons could receive Football League permission for the process to go ahead before that, but the legal side will not be completed this week.

The League met on Thursday and is waiting for clarification on one or two points before giving permission.

"People can celebrate now, nothing can go wrong, there are just some tiny legal bits," said manager Denis Smith.

"It's all done and dusted and it will be a great day when everything's complete."

When the Football League ratify a proposed takeover bid, ownership of the club will pass to a consortium led by local businessman Neville Dickens and Wrexham will be able to operate as any other club.

"It's been a long process, but safeguarding the best interests of the club has been paramount to all," said a statement on the Wrexham website.

Wrexham went into administration in December 2004 with debts of �4m and were docked 10 league points, a decision that saw them relegated to League Two.

Creditors accepted the Dickens consortium rescue plan in May to receive about 28p in every pound they are owed.

Under Football League rules, Wrexham had until 3 June to come out of administration or be expelled from the League.

On 6 June, the Football League board voted to accept the takeover bid and said the plan had met the 18-month deadline.

SEE ALSO
Club survival clears new hurdles
06 Jun 06 |  North east
Wrexham FC takeover gets go-ahead
30 May 06 |  North east


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