RAY Ingleby planned to float Burnley FC on the stock market had he gained control at Turf Moor.

Ingleby was attracted by the Clarets' potential when he decided to try and buy a football club in the North-West.

And he revealed that had his £3million takeover bid been successful, the plan was to turn the Clarets into a First Division club and then go public.

Ingleby admitted that he hoped to make money out of the club 'over a period of time', with the Clarets becoming more successful on the back of the scheme. However, Ingleby, who is now the club's vice-chairman following Barry Kilby's acquisition of a majority shareholding, stressed that he never intended just to cash in on his shareholding and move on.

"I would have floated as a First Division club, and had a great time in doing it," Ingleby said.

"I saw it as having fun and turning around the sleeping giant. The result of doing both of those things Burnley would be a lot more viable and I would make money. You should not be bashful about the fact that Burnley needs to make money.

"I was never going to cut and run," he added.

Ingleby's motivation has now changed with no plans in the pipeline for a flotation.

The millionaire businessman said he had no plans to sell his existing shareholding and had become a fervent Clarets fan since getting a taste for the Turf Moor experience.

"I've been to virtually every game and I am a fanatic. I'm not interested in selling shares. I am here to stay," he said.

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