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"We've had preliminary interest from more than one enquirer" - Cheltenham Town chairman David Bloxham encouraged by early investor interest
Chairman David Bloxham says he has been "encouraged" by the response since Cheltenham Town made it public that they were actively seeking substantial new investment.
As revealed by Gloucestershire Live at the end of September, the League Two club's two principal shareholders, Simon Keswick and CTFC Investments Ltd, are prepared to sell their stakes.
"Since the club made it public that it was looking for investors, I have been encouraged by the steps we have taken and the initial responses and enquiries we have received," Bloxham said.
"We have had preliminary interest from more than one enquirer, but the club are going through the process of due diligence and we have not yet reached the stage of any formal offers.
"This is the search for a credible investor, who can help the club move forward."
The club's board is being assisted with the process by the representative of CTFC Investments Ltd, who according to Bloxham "has extensive experience in company acquisitions" and "loves the club and wants to continue to be involved, but didn’t feel they could inject the amount of capital needed to take the club forward."
The club is close to finalising an investor deck, which will outline its plan, vision, and financial details to interested parties.
Speaking to Gloucestershire Live in mid-October regarding what the club is looking for, Bloxham said: "The overriding consideration is that it must be the right fit for Cheltenham Town.
"Ideally, a Cheltonian who loves the club and has the resources would be great.
"But the board and owners understand that at this juncture the club is in need of significant investment, particularly with regard to infrastructure at the stadium and training ground, so given the sums of money required the club may need to find investors from further afield.
"To make a big difference, we need someone who has the capability of putting in £10-20m. That will make a difference and mean we can do things to make us more sustainable."
READ MORE: Cheltenham Town's West Ham United loan defender Levi Laing steps up recovery from knee injury
* Cheltenham Town play Salford City away in the FA Cup second round on Saturday afternoon (3pm).
