Saints in takeover talks with Gregg? (From Daily Echo)

Saints in takeover talks with Gregg?

9:10am Wednesday 13th February 2008 in Sport

Former Everton director Paul Gregg is the latest person to be linked with a possible takeover at Saints.

Gregg, who left Goodison Park three years ago, is said to be in "advanced" talks with the club.

Gregg last summer failed in a bid to buy a controlling stake in Sheffield Wednesday.

Last week, Saints' board put on hold the search for a new manager in the wake of a stock exchange announcement regarding potential new investment in the club.

But after last night's 3-2 defeat at Stoke - Saints' second reverse in 72 hours - the board face a dilemma today as to whether to continue with caretaker managers John Gorman and Jason Dodd.

Their decision may hinge on how close any deal for new investment is.

Born in Scarborough in 1941, Gregg has also previously been linked with a takeover bid at Chester City.

Now based in Florida, his estimated wealth is thought to be in excess of £100m.

Gregg made his money in the entertainment world, building Apollo Leisure Group into the UK's biggest theatre owner and largest privately owned company operating in Western Europe.

After selling up to SFX in 1999, he was a large stakeholder in Everton, with more than 20 per cent of the shares, before falling out with chairman Bill Kenwright.

Gregg very nearly brokered a deal with Wednesday last year and had even satisfactorily completed due diligence.

However, he pulled out because only 30 per cent of the club's shares, which were controlled by the board, could be delivered with any certainty, leaving him short of a controlling 51 per cent stake.