Take Over Bid Accepted
The day has finally come.
Sir Jack Hayward has agreed to relinquish his hold over the club he supported as a lad, like he said he would, to a British based businessman who was prepared to offer the club a minimum of £20m to invest in the side.
Steve Morgan, the former boss of Redrow homes who has a personal wealth estimated at £423m has agreed to invest £30m, and will take control of the club for a nominal fee, subject the deal's rattification by the Hayward Family Trust trustees.
Founder of Redrow Homes in 1974, Mr Morgan ran the company until it was floated on teh stock exchange in 2000, and also invested heavilly in Hotels, eventually merging his interestes into De Ver Hotel Group.
Thanks for the memories Uncle Jack.