Blackpool Panthers enter crisis talks over future

Blackpool Panthers are to hold crisis talks with potential investors on Monday as they attempt to stave off the threat of liquidation.

The club went into administration in October and have until Friday to submit a business plan to the Rugby Football League to form a new company.

Coach Martin Crompton has also resigned after three years in charge.

Blackpool vice-chairman John Chadwick told BBC Radio Lancashire: "We're fearing the worst."

He added: "The club ceased trading a number of weeks ago and accountants and insolvency experts have been spoken to.

"Having said that, hope springs eternal and I just hope something positive comes out with the possible new investors, the green light is given and a business plan is produced."

I hope that he does stay in rugby league because I think he's got an awful lot to offer

Blackpool Panthers vice-chairman John Chadwick

Crompton replaced Andy Gregory at the end of the 2007 season.

The former Warrington and Wigan player quickly turned the club's fortunes around after overseeing their first win just weeks into his first season in charge - a run which had seen them fail to win any of their previous 45 matches.

The Panthers went on to claim their first ever piece of silverware in July 2009 after winning the inaugural National Rail Nines.

In the same year, they also reached the Championship One play-offs for the first time in their history before eventually losing out to Rochdale.

"Martin rang me last week following a meeting we had with himself and a couple of interested parties in forming a new company," said Chadwick.

"He had decided that the possible formation of the new company was taking so long that he couldn't accept it any longer.

"He had been speaking to the players and quite a few of them had agreed to remain loyal and stay with Blackpool, providing certain payments were made.

"It's very sad after all he's achieved at Blackpool. I hope that he does stay in rugby league because I think he's got an awful lot to offer and I'm quite sure several clubs will be monitoring his situation."