THE PROMISED cash windfall from the Peter Shackleton led consortium bidding for control at Burnley Football Club will be worth the wait, writes PETE OLIVER.

That was the pledge from Clarets chairman Frank Teasdale as he broke his lengthy silence on the takeover saga at a fans' forum at Turf Moor last night.

Teasdale confessed that the delays and lack of activity from the Shackleton camp had been unsatisfactory but said the contents of the takeover package would justify the timescale of events and the decision to go with Shackelton and not rival bidder Ray Ingleby.

The chairman told around 350 fans packed into the Centre Spot: "We have had approaches from two people and in the board's eyes the Shackleton offer long-term and even short-term for that matter is the best for the club, that's beyond dispute.

"In fact Ray Ingleby has gone in print to say that, if the (Shackleton) figures quoted are correct, he would go along with that and support it.

"With regard to the delays I am the first to admit it has gone on far too long. The delay is purely and simply at the Shackleton end who in turn is waiting for investors who are involved in major mergers.

"I had a meeting in London last week with his solicitor and our solicitor and with some finance people and it was confirmed that these people (the investors) exist.

"This is just as frustrating for us. Is it not easier for us to capitulate and walk away. Don't you think we should have the best for the club or is it a matter of first-come-first served?

"We are trying to do the best for the club. I accept the criticism that it has gone on too long but believe me the wait will be worth it."

Explaining the appeal of the Shackleton offer, which is believed to offer other long term financial guarantees for the club as well as an initial cash injection, Shackleton added: "It's the finance to start with in terms of what's on offer.

"The money to start with is better, much much better. And the long term backing after that even in our wildest dreams is much more than we could have expected. Isn't that what we should be looking for?"

The board have put all theirs eggs in the Shackleton basket as they firmly believe it will be the best for the club.

There was no suggestion of what could happen if that deal falls through or Shackleton fails to meet the deadline which has been set by the club.

But Teasdale is confident their faith in Shackleton will be rewarded.

"I can't and will not discuss the individual deals. My turn will come when something happens and then we shall wait and see who is right.

"We believe we are right and we hope we are right because it's to everybody's benefit," he said.

Teasdale was given a rough ride at times by the supporters but explained frankly the latest developments as he insisted that the deal being pursued was for the good of the club and not the current board.

"If we had wanted to feather our nests we could have gone away now," he said with reference to the £140 share offer from Ingleby as he looked to wrest control.

"I have publicly said that if Mr Ingleby, Mr Shackleton or whoever takes control and they don't want Frank Teasdale I will walk away."

Ingleby retains the popular support of many fans despite his lesser offer for the club.

Many believe a bird in the hand is worth two in the bush, although the board has made it clear his offers have been unacceptable.

Teasdale reiterated that there has been no formal instruction to the club from the America-based businessman that he has pulled out of the running for control but it's clear that is a one-horse race if Shackleton comes up with the goods.

There were calls for Ingleby to be given a place on the board to reflect his shareholding and while some of the board suggested that was feasible, Teasdale claimed it was a hypothetical question until the new owners are in place.

It's difficult to say how many dissenters Teasdale won over last night, but it is apparent that the board is actively trying to pursue a deal that will stand the club in good stead.

Only Shackleton has the answers as to whether he justifies the board's support and the sooner he provides them the better, not only for the current board but for the backing of the club as a whole with the new season just days away.

The meeting will be broadcast on Radio Lancashire tonight at 7pm.

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