Newport County: League Two club speaking to 'four interested parties' over investment
- Published
Newport County have priority over fixtures at Rodney Parade where Dragons and Newport RFC play rugby union
Director Peter Madigan says Newport County are speaking to "four interested parties" about potential investment in the League Two club.
Newport, who are owned by fans, have announced losses of £1.2m for the year ending 30 June, 2022.
Madigan says the Exiles are open to a full or partial takeover, with former club director Colin Everett tasked with speaking to potential investors.
"I think we're open to good ideas, really," Madigan said.
"It is a fan-owned club. However, we want Colin to talk to anybody that is interested in getting involved in the club.
"Colin will provide all the information which is necessary for those individuals to do due diligence and see what interested parties might be able to offer.
"Colin will coordinate those offers and we'll present anything that passes muster to the fans and ask the fans to vote on what they would like to do going forward."
Newport have been owned by the club's Supporters' Trust since 2015.
But Madigan says they would consider switching to a hybrid ownership model - where the club would remain part-owned by the trust - or a complete takeover.
"If somebody comes forward and they put forward an offer to buy the club outright, we will consider that obviously," he told BBC Radio Wales' Friday Night Sport programme.
"If somebody comes forward and says they would like the trust to remain as a minority shareholder, we are open to that.
"I think the trust group is a very valuable group to the football club. I think though it could operate very successfully alongside an owner or a consortium or individuals. Nothing is off the table."
Newport-born businessman Jon Pratt joined the club's board of directors in February and Madigan said he is among "three of four interested parties who are looking to gain more information".
Madigan added: "We offered John the opportunity to join the board so we could get to know him and give him a little bit of an inside track in terms of how the club was performing.
"He lives in Florida so it's not as if he can drop in. He has expressed an interest and I am sure he will be part of the process and I know Colin is speaking to him at the moment."
Newport finished 15th in League Two last season, their 10th in a row at that level following promotion from the fifth tier in 2013.
But captain Mickey Demetriou and fellow defenders Aaron Lewis, Priestley Farquharson and Cameron Norman have all left Rodney Parade this summer despite being offered new contracts.
Manager Graham Coughlan said he was "very frustrated and annoyed" by the departures, which have left him trying "to put together some sort of competitive squad" for the 2023-24 campaign.
"I think League Two is always tough. There are some big clubs in the division with big budgets," Madigan said.
"But there always has been since the County achieved League Two status.
"My view is Graham is a fighter. He proved that last season and he will do the same his season, I have no doubts about that."