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Council backs Farsley Celtic loan bid
A CONSORTIUM bidding to bring Farsley Celtic out of administration has won financial backing from council bosses.
Leeds City Council's executive board agreed on Friday to a loan request from the group, led by club president John Palmer.
The loan will only go through, however, if the Palmer consortium's offer for Farsley is accepted by administrators Mazars.
No details have been released on the amount the council has agreed to lend.
It is understood, however, that the sum is less than the consortium would put up itself, should the deal go through.
The Palmer offer is one of two being considered by accountancy firm Mazars.
A council report says the other as-yet-unnamed bidder wants to use the Celtic site "for their own business purposes" – raising the prospect of the football club as it is now ceasing to exist.
Council leader Coun Andrew Carter, ward member for Calverley and Farsley, said it would be "very bad news indeed for the local community" if Mazars rejected the Palmer consortium's offer.
Blue Square North outfit Celtic have been in administration since July last year.
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Friday 25 May 2012
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