Farsley pull out of game as talks fail to find solution

The Conference North club went into administration last summer and a proposed rescue package put forward by president John Palmer has been rejected as 'inadequate.'

Officials from Leeds City Council, who have offered an unspecified loan should Palmer's bid be successful, were in talks yesterday with the club's administrators Mazars.

Robert Adamson, partner at the Leeds office of the accountancy firm, said: "Following the rejection of the consortium's offer last Wednesday, a further meeting was held with the consortium's representatives (on Monday) afternoon at 4.00.

"At this meeting they had the opportunity to make an improved offer, but they chose not to do so. Thus, the core issue remains that the consortium's funds are not sufficient to complete the deal they want to complete and satisfy the creditors.

"Immediately after this, a second meeting of the creditors' committee took place and I was instructed not to extend the agreement under which the club is currently trading."

It was this development that prompted the administrators to pull the team out of last night's game.

"We've worked to explore various options with the consortium over the course of the administration – including a sale and leaseback of the land – to secure the club's future," added Adamson.

"We are meeting with Leeds City Council to discuss how we preserve the sporting facilities for the benefit of the local community which has been our other primary concern from the onset of the administration."

If an improved rescue package is not received in the next few days, Mazars will have no option but to start the process of liquidation.

A spokesman for the Conference said they were 'aware of the situation' but were unable to comment any further at this stage.