Bates Back In Control

Last updated : 04 June 2007 By Kevin Markey
After putting the club in administration with debts of £35m on May 4, Bates required 75% of creditors' votes to buy the club back.

The re-count showed that 75.2% of creditors backed his plans to offer them just 1p in the £1 of debts owed.

His plan faced strong opposition at Friday's meeting, with some creditors backing rival offers.

Administrators KPMG said last week that there were five consortia who had proved they had the funds in place to buy the club.

While KPMG refused to say who were Bates' rivals, local property developer Simon Morris and Duncan Revie, son of former manager Don, had shown an interest.