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Friday, 25 January, 2002, 14:52 GMT
Swans finally sold
The long-suffering Swansea fans finally have their wish
Controversial Swansea City chairman Tony Petty has finally offloaded the Swans to a new owner after a previous sale collapsed at the last minute.
A local consortium, including members of the Supporters' Trust and headed by former Swansea director Mel Nurse, bought the club for an undisclosed sum late Thursday night. Nurse said on Friday that he was relieved he had now bought the club, adding that the deal had been a long time coming. However, former Wales international Nurse - who played for the club between the 1950s and 70s - said that if a millionaire stepped in to offer to buy the club he would accept.
The figure is believed to be no more than £50,000, though Nurse revealed that he had personally spent £250,000 over the years on investing in the club, including building a car park and bar. A statement issued by the consortium said: "Members of the consortium include Mel Nurse, Brian Katzen, Gareth Keen, David Morgan, the Swansea City Supporters' Trust and other donors who presently wish to remain anonymous. "Other potential investors are already talking to the consortium and we are keen to hear from others. "Our deep thanks goes to the... loyal Swansea fans, who have contributed their time, efforts and money to that cause." The news will come as a welcome relief for worried Swansea fans who have been been campaigning to oust Petty. The Australian-based businessman controversially attempted to sack players and tried to reduce wages to cut costs, both moves earning the wrath of the Professional Footballers' Association. The PFA is also owed money for loans paid to cover wages over Christmas.
Swansea skipper Nick Cusack is the chairman of the PFA and has been instrumental in protecting his team-mates' rights. A consortium led by property developer Mel Griffin and Jim Moore was poised to buy the club on Tuesday, but negotiations broke down on Tuesday. Swansea's players were given the news of the failed takeover as they travelled to play Bristol Rovers, later losing 4-1. Petty alleged that the the Griffin consortium had got cold feet after Swansea County Council announced redeveloping the Vetch was not an option. The club is expected to move to the new Morfa Stadium development in the future, which they will share with the city's professional rugby club. Nurse, who bought the club's outstanding debt from former owners Ninth Floor plc in November, has now acquired the majority of Swans shares from Petty - shares he acquired for just £1 in October 2001. "Survival is first and utmost, and we'll go from there," he said, adding that he would do whatever he could for the club but would not become the chairman. A new board of directors will decide on a replacement chairman next week. "We have some money ready for advancement and we'll take that out of it - but it's going to be an uphill task and we will need financial assistance.
"There were quite a few documents which were missing from the Vetch and so on, but hopefully we have overcome that now. "We've got one hell of a ladder to climb - I am hoping the public will support us." Nurse resigned as a Swansea director in November and moved swiftly to buy up the club's £801,000 debts in a bid to gain the upper hand. He subsequently petitioned at the High Court for an administrator to oversee the club's future, although Petty was granted extra time to pay the club's debts. Petty took ownership of the club in October after a similarly turbulent history in Australia, where he caused anger at the Brisbane Lions and Soccer Australia, the national footballing body.
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