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Businessman's Carlisle Utd investment bid on hold

Carlisle United have revealed that talks with potential investor Andrew Lapping are on hold as the club is in discussions over another investment deal.

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A group of local businesses led by Andrew Lapping were on the verge of agreeing a major investment into Carlisle United... until the club revealed it's in talks with a second potential investor.

They've now put talks with Mr Lapping's group on hold.

The life-long fan says he's "shell shocked" by the news, and that the "timing is appalling" with the transfer window looming, and a need for the club to rebuild over the summer.

He says if the new investor doesn't agree to put money into the club, there's no guarantee he and his group will still be willing to invest.

'Billionaire' behind latest Carlisle United investment bid

One of the businessmen backing Andrew Lapping's bid to invest in Carlisle United, has claimed a "billionaire" is behind a surprise second investment offer.

Andy Bell, a Vice President and Sponsor for the club, said:

We have to look into this new investor as he/she is a billionaire and is willing to inject millions into the club and work alongside any current local investors such as myself, this may have come at a bad time but has to be looked into and checked out. We all want what is best for the club."

– Andy Bell

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Businessman's Carlisle Utd investment bid on hold

Credit: ITV Border

Carlisle United have revealed that talks with potential investor Andrew Lapping are now on hold after the club announced a prospective new investment offer from a second party.

In a statement released yesterday evening the club said it had held lengthy discussions with legal and financial advisers and has subsequently decided that current discussions about the club's shareholding should be temporarily put on hold until this new offer is fully assessed.

The Blues say the proposed investment is structured over a three to five year period as opposed to a one-off injection of funding.

However businessman Andrew Lapping, who has been working with the club for several months on his plan, said he was "shell-shocked" and hadn't seen this potential second investment coming.

"It is our duty as directors to get the best possible deal for the long-term future of the club. Therefore, it is essential that we take time to consider this latest development."

– Carlisle United Chairman Andrew Jenkins

Meanwhile United Supporters' Trust said in a statement that they remain committed to Mr Lapping's plan and had been surprised by the announcement of the alternative bid

"The United Trust, following the statement re new investment from CUFC, would like to clarify that the approval to dilute its shareholding was voted for by the membership on the basis of the Andrew Lapping plan and no other. We still remain committed to this plan and the bright future it promises.

"These new proposals will need to be examined with all the care and diligence that Andrew Lapping’s proposals were and if it was felt the proposals had merit the approval of the membership would be sought again."

– United Trust
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