ACCRINGTON Stanley's monthly board meeting ended in drama last night – with unconfirmed reports of the resignation of managing director Dave O’Neill.

O’Neill, who has been attempting to finalise the takeover of Eric Whalley’s majority shareholding for more than a year, took over the running of the club last summer.

Multi-millionaire Ilyas Khan became non-executive chairman when his cash saved the club from winding up proceedings in November but he had previously announced his intention to resign from the board at last night's monthly board meeting, in line with an agreement with O’Neill.

It is understood that disagreements between Khan and O’Neill over the future of the club came to a head at last night’s meeting, with the pair having previously had differences over the solutions to the Reds’ financial crisis last autumn.

It still remains unclear whether O’Neill has resigned, however, with the man in question making no comment at this stage.

There will be more on this story in tomorrow’s Lancashire Telegraph.