RAY Ingleby today insisted that his decision to pull out of the battle for control of Burnley Football Club was no bluff, writes NEIL BRAMWELL.

The tycoon's right hand man, David Parry, stressed: "He is totally cheesed off.

"He cannot keep banging his head against a brick wall. It is no bluff.

"The Burnley board will not budge. We have tried to do it every way but it has got nowhere.

"He has got a business to attend to. Ray cannot keep flogging a dead horse.

"I am personally very disappointed for everybody with Burnley at heart."

Ingleby made his latest offer for the club at the beginning of July.

That was to buy 20,000 unissued shares at £150 each - amounting to £30 million - giving Ingleby overall control of the club.

An alternative proposal from Ingleby suggested that, if the offer was not acceptable, Ingleby should be allowed two seats on the board to reflect the number of shares already bought.

That has also been rejected as previous hostile takeover attempts have alienated Ingleby from some board members.

And Turf Moor chairman Frank Teasdale firmly believes that Ingleby had to make an offer that was a more accurate reflection of the club's worth - with safeguards for the future.

There is also a belief that the timing of this announcement is cleverly designed to stir supporters' emotions during the countdown to the new season.

But I can reveal that the board were initially ready to progress renewed discussions - but only on the condition that Ingleby signed a confidentiality agreement. That request was refused by Ingleby's lawyers.

And Ingleby has been threatening to reveal his decision to quit the race for the last 10 days.

But, only yesterday morning, the noises coming from the Ingleby camp were very different.

Parry insisted then: "Ray Ingleby is still considering his options but is no less enthusiastic than he was before."

The multi-millionaire has, however, been suffering problems on the New York Stock Exchange.

The share price of his company has plummeted from a high of around 46 to just under 15. And that has slashed the depth of Ingleby's personal assets.

But, in a prepared statement, Ingleby said that the board's stubborn stance had been too much to take.

He said: "After continued and concerted efforts to convince the board of Burnley Football Club to take the steps necessary to enable me to take a controlling share in the club, I have come to the conclusion that I am wasting my time.

I feel that I have shown great patience in recent months whilst alternative proposals have been favoured by the board, despite never materialising.

"The attempts that have been made during the close season have not been made public as it had become clear that the board liked to keep discussions secret.

"Nevertheless all attempts have proved fruitless despite having tried to progress matters through my solicitors and also through talks with individual directors. "I have decided that I cannot continue to devote time to this when clearly I am going to continue to be unsuccessful due to the board's stance. The situation has become farcical.

"I remain the club's largest individual shareholder and trust that one day, my money will prove well spent.

"As recently as July 2, I offered to invest £3 million into the club with a proposed timetable for the funds to be available before the start of the season, but this offer has not been accepted.

"My money has been available, but rejected for almost 12 months. A great opportunity for the club has been missed.

"I trust that the forthcoming season will prove more enjoyable for the club's great and loyal supporters than the last."

Ingleby's decision leaves only Peter Shackleton's troubled bid, backed by a mystery 750-dollar million oil company, on the table.

But the board believe that is still progressing - very slowly.

Converted for the new archive on 14 July 2000. Some images and formatting may have been lost in the conversion.