Mike Woodward will have to wait a little longer to fulfil his ambition of owning a Football League club.
His bid for Peterborough United was not accepted and now the Grays Athletic Director of Football and financial backer is requesting further details of the Second Division club's outstanding debts before planning his next move.
"I am still optimistic that an agreement can be reached," Woodward said today. "But without the complete current financial picture it would be irresponsible of me to commit to such a deal."
Nonetheless he remained confident of a positive outcome to gain control of the Posh who are around £700,000 in the red.
The Essex-based millionaire is one of three parties interested in buying the club, the other two being made up of Peterborough-based businessmen.
Millionaire Woodward had confirmed he had made an undisclosed offer for control of the club earlier in the week.
He is keen to make his current club Grays Athletic a feeder club for Posh, but would not be allowed under soccer's rules to have direct directorship in two clubs.
Published Thursday, January 16, 2003
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