A DEAL has finally been reached which will secure the future of Warrington Wolves - if only temporarily.
As reported in the Guardian, the club has been in negotiations about a loan with the borough council, principal sponsor Carlsberg Tetley and Tesco, who are linked with the Wolves through the joint planning application for the new stadium. The club's finances are again running dangerously low and the club needs a loan to see it through until after the forthcoming public inquiry.
The council proposed that it would loan £200,000 if the two companies would each loan £250,000 in a three-way partnership.
There were fears that the supermarket giants were about to pull out and though early indications from Tesco were that the deal was agreed, it has taken until this week, as the council turned up the heat, for details to be finalised. The company will not hand over the full amount now, but has agreed to a smaller loan, as has Carlsberg Tetley and the council.
Council chief executive Steven Broomhead said: "This gets the club through a very difficult period, to the middle of May when the public inquiry starts.
"Finance directors from all three parties are meeting and I am expecting a letter of intent which says that after the public inquiry Tesco and Carlsberg Tetley will put in further money.
"I'm realistic, they have to assess the risk and I never expected the club would receive all the money at once.
"I see this as the beginning of a new era and this news should push the team forward for Sunday's game."
But Martyn Venning, Tesco's corporate affairs manager, is still remaining tight-lipped.
"It is not our wish to see the club cease to exist," he said, "and we are always looking to see what we can do to help within commercial boundaries.
"The loan proposal has been submitted to the board and they have to confirm it. However I think it's likely we will be supporting the club and we are doing our best, but I can't confirm it until after the board meets on Thursday."
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