Brentford approached the Administrators (Begbies Traynor) of Kingstonian Football Club about three weeks ago as they were informed that Begbies Traynor would like to conclude a deal to take Kingstonian FC out of administration as soon as possible.
As a result Brentford FC made a subject to contract offer for the long leasehold interest in The Kingsmeadow Stadium on a vacant possession basis. Brentford wanted vacant possession included purely for tax reasons. However in further meetings with The Administrator the possibilities of saving Kingstonian FC were also discussed. The Club was in the process of exploring their options with regard to securing the future of Kingstonian as well as securing the long leasehold interest in the Stadium.
At a Brentford FC Board Meeting last week, the Directors of Brentford FC voted in favour of the purchase of Kingsmeadow and the Board also agreed that this was a good deal for Brentford FC bearing in mind it's only prior option to share a ground was at Woking. Following the Board meeting, the Club's Managing Director Gary Hargraves attended a further meeting with the Administrators of Kingstonian FC confirming the Club's "subject to contract" offer and also clearly stating that there was every probability that the Club could also save Kingstonian FC, and consequently negotiated and agreed a 15 day exclusivity period during which time contracts would be exchanged.
On Monday of this week, Gary Hargraves was very disappointed to learn that having agreed this 15-day exclusivity period, Begbies Traynor had exchanged contracts with another interested party. Mr Hargraves said: "Begbies Traynor have broken their agreement with us which I consider totally unprofessional and unethical for a professional practise. Their Lawyers had agreed to forward us a draft contract but they exchanged with the other party without making reference to us. Not only do we believe that our offer would have saved Kingstonian Football Club but it also gave Brentford FC a short term home should one be needed”.