Raith Rovers: Talks over potential takeover of club break down
- Published
Raith Rovers are sixth in the Scottish Championship
Scottish Premiership: Raith Rovers v Dundee |
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Venue: Stark's Park Date: Friday, 6 January Kick-off: 19:45 GMT |
Coverage: Watch on BBC Scotland, BBC iPlayer and the BBC Sport website & app |
Talks between a Hong Kong-based investor and Raith Rovers regarding a takeover of the club have broken down.
Silverbear Capital Inc founder and managing partner Peter Chun, through a Swiss-based agent, has been discussing the possibility of acquiring Thailand-based John Sim's major shareholding.
The investor told BBC Scotland they were "hopeful" issues around corporate social responsibility can be resolved.
Raith Rovers "note they (Silverbear) wish to continue discussions".
However, they added: "As proud custodians of Raith Rovers Football Club, our first and most important responsibility is to protect it and safeguard its long-term future, while upholding the club's values and conducting our business in a professional manner.
"We will continue to discuss potential investment with other interested parties."
Silverbear indicate a number of players had been lined up to join the Scottish Championship club in January, including one from an English Premier League side.
However, Raith said: "We do not want to specifically comment on the details given by the group around the offering of players apart from saying that, subject to funding being available, the manager makes decisions on who to sign and he decided that the players were at best squad players and would not add any value to the current squad.
"These same players have been showcased at other clubs in Scotland and have not been offered contracts."
In December, Raith called for investors to come forward otherwise a reduction in the football operations at the club were inevitable. The club was taken over in 2005 but has been averaging £150,000 in annual losses, although a debt of around £500,000 has been paid off.
On the park, Ian Murray's side are sixth in their division and host Dundee on Friday evening (19:45 GMT).
Watch Raith Rovers v Dundee on BBC Scotland, BBC iPlayer and the BBC Sport website & app
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