Betting firm pulls back from takeover

2:11pm Friday 5th September 2008

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ONLINE betting firm ibetX is continuing to monitor Town with interest - but a takeover is not imminent.

The Gazette last week revealed that ibetX was interested in buying the club as part of a plan to raise its profile in football.

Ian Davies, a director of the company, asked Town chairman Rafi Razzak to see if he would be interested in selling. While Razzak initially said he was not, he changed his stance later, claiming he would consider an offer if it was right for the club.

at a board meeting on Tuesday, the directors of ibetX decided not to make an offer immediately.

"As far as Basingstoke Town goes, we are going to continue to monitor the club with a lot of interest," said Davies, a former chairman of the supporters' club. "If we make a bid, it will be all about timing and the best time is likely to be between six months and a year from now.

"We are in the process of improving our website. That is going to take six months and, ideally, we would like to invest in a football club around the same time.

"However, we would not rule out coming in earlier if the climate is right."

The directors tuned in to the internet to hear commentary on Town's 0-0 draw with Worcester City from BBC Radio Hereford and Worcester.

While Davies says that Town remain ibetX's "number one target", other clubs were discussed at the meeting.

"We are also looking at Bedford Town and Slough Town," he said."We have not approached either of these clubs - we are just interested in them."