Reds expecting sale update from Football League on Friday

The League are investigating Eren for their directors and owners’ test which they undertake for anyone buying or becoming a director of a professional football club.

This is likely to mean the takeover will not take place until at least next week, if not later.

Reds chief executive Michael Dunford said: “The FA have said they will give us an update on their investigation this Friday. That means it is most unlikely the deal can be completed until next week at the earliest.”

Dunford has also confirmed that he will be leaving the club when the takeover is completed, with a number of other board members expected to make way as well.

And the board have also moved to quash rumours of current high debts.

Dunford said: “When we leave the club it will be in a sound financial position. Speculation in the press in Europe that we have debts of £2.5m are simply not true.

“It was important when we complete the sale of the club that we give the new owner a fresh slate. Our creditor debt is less than £170,000 which is normal for a club of our size.”

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