Stockport set to be rescued by sale to Melrose consortium
The administrators of Coca-Cola League One crisis club Stockport have confirmed they have agreed terms for its sale to the Melrose consortium.
The Hatters went into administration at the end of April with crippling debts, but a takeover to secure the club's future now looks set to go through.
A spokesman for the Melrose consortium told Stockport's official website: "We look forward to developing a fruitful relationship with Sale Sharks and Stockport Metropolitan Borough Council which will provide the basis for a successful future for Stockport County Football Club."
The consortium is described on the club website as "a group of businessmen with a sporting background headed by Jim Melrose".
Paul Reeves, one of the joint administrators, added: "Whilst a deal has been agreed, it is subject to the Melrose consortium obtaining landlord approval. This is a positive step to safeguarding the club's future."