RAY INGLEBY today slammed his "shoddy" treatment from the Burnley Football Club board of directors, writes NEIL BRAMWELL.
The New York-based tycoon had tabled a £4.9 million bid for the unissued shares in the club - a 70 per cent stake.
But his February 28 deadline for a response has elapsed without a word from Turf Moor.
And Ingleby is now appealing for existing shareholders to sell him their shares in an effort to revive his bid to take control.
The multi-millionaire's right-hand man David Parry said: "We had been promised an answer, but that has not come.
"Let's face it, a club in the Third Division is not worth as much as a Second Division club. And our offer was for a Second Division club. The board have to come to us now.
"But if anybody wishes to sell their shares, irrespective of their status, then we may be interested.
"If they had rung for an extension to the deadline it would probably have been okayed.
"We have given an offer which we understand to be higher than any other previous price - at £140 per share. Every penny would then have gone into the club. It would not be for an individual's profit.
"Anyone with Burnley at heart would agree that is in the best interests of the club."
Parry, however, stressed that Ingleby's interest was not dead.
And a move to join forces with the consortium represented by Apax Partners is one option.
Parry added: "We would hope that the board may come back to us. "But we are not going back with a revised offer.
"It has not made us feel over-confident in dealing with them.
"I haven't dealt with anyone who has not responded previously and it is not a nice experience. If they had said 'We do not want your offer and this is the reason why', at least they would have played ball.
"I cannot understand it. Two months ago I said we wanted to inject the money sooner rather than later to provide the club with funds in the fight against relegation.
"But we have been left in the dark.
"Ray is not very happy. He feels we have been treated shoddily.
"I hope it's not the end of everything but I'm not optimistic.
"It would be a great shame if something doesn't happen with one of the parties willing to inject cash."
Chairman Frank Teasdale was today unavailable for comment.
But Saturday's 2-1 defeat at Carlisle leaves the Clarets rooted in the relegation zone.
And the patience of supporters and shareholders is also running out. Moves are already being made by shareholders to call an extraordinary general meeting at discuss the takeover situation.
Such a meeting can be called by members holding more than 10 per cent of the issued share capital in the club.
It is likely the agenda of such a meeting would include a vote of 'no confidence' in the board of directors.
Supporters also want official confirmation of the existence of the third party.
His identity has been a closely guarded secret by the board.
But I understand the board are close to making an announcement about the mystery man's intentions. Company director Andrew Ronnan, a fierce critic of the Burnley board, said: "It is clear that the directors appear to be failing their main duty.
"This is to provide the resources for Burnley Football Club to trade successfully as a company both on and off the field.
"I can confirm that there is support of more than 10 per cent of the issued share capital for an EGM to take place by the end of March.
"Alternatively the directors themselves may be willing to set the meeting before the end of March."
Converted for the new archive on 14 July 2000. Some images and formatting may have been lost in the conversion.
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