AT LONG last there are to be changes on the Board and to the finances of Burnley FC. While welcoming the news of Frank Teasdale's resignation as chairman, I think he has not gone far enough.

Also, I am very concerned about the details of the rights issue. Let's examine the story so far. About 20 months ago Ray Ingleby approached the board with a view to investing money in the club. The board said nothing at all about this to the shareholders.

Mr Teasdale even lied at the last AGM. I know that for a fact as it was me who asked him the question at the shareholders meeting. After finally admitting publicly that there had been an approach, suddenly a mystery third bidder appeared on the scene - Peter Shackleton.

Mr Teasdale publicly backed the Shackleton bid even though there was no concrete proof that he had any money at his disposal, something that cannot be said about Mr Ingleby. Ray Ingleby bought up a lot of shares from existing shareholders to show people how serious he is about taking over the club. Mr Teasdale in particular continued to shun Mr Ingleby.

Then, in June, Mr Ingleby offered £3 million for 20,000 unsold shares which would have effectively given control to him. The Board described this offer as derisory. Next Barry Kilby buys out two of the existing board members and is offered a seat on the board even though he has less shares than Ray Ingleby. According to the details printed in the papers of the share issue, none of the Board, apart from Barry Kilby, are initially to take up their rights to buy their allotted shares. This we are told is to allow Mr Kilby to take up to 59 per cent of shares, thus taking control of the club for approximately £3 million. Wasn't that the amount the Board told Ray Ingleby back in June was a derisory amount?

The Board also said that they have been united all along in their dealings with the takeover bids. The Board have said that the rights issue will give fans the chance to put their money where their mouths were. Hang on, if that's true why are they not putting their money where their mouths are. We were also led to believe that fans would be able to buy shares. Hang on, if shares are going to be sold to existing shareholders only, many fans will be deprived of investing in the club they love.

I think that this Board should resign en bloc apart from Barry Kilby. Let's be honest how do they honestly expect people to invest in the club when it is being run by people who have acted like they have over the past 20 months. The bottom line as far as I can see is that the money that is raised through the share issue as it stands will only just clear our debts. There may be a little surplus but how far will that go? Now we are just papering over the massive cracks that have appeared?

DAVE WYNNE, Billington.

Converted for the new archive on 14 July 2000. Some images and formatting may have been lost in the conversion.