The Board of Dagenham and Redbridge have announced that they have withdrawn their support for a proposed investment in the club by a local consortium.
The consortium, led by Glenn Tamplin, had been in discussions with the Daggers board but after club members expressed concerns over a proposed change to the structure of the club, the board have now decided that they are unable to support the move.
The news was announced in a statement on Wednesday, with the Daggers board thanking Tamplin and his consortium for conducting themselves “in an exemplary manner”.
They also assured the Daggers supporters that the current board would ensure that the club continues to be financed “at its current level”.
The statement in full read “Since the recent Company meeting to discuss the proposed change in the structure of Dagenham & Redbridge FC Ltd, a number of Members has privately contacted members of the current Board of Directors.
“They have expressed concerns and indicated that they would now not support the proposed vote on the ‘Scheme of Arrangement’, which was to be held in mid-December. Certain Board Members have subsequently concluded that there is now no likelihood of the proposed vote achieving the required 75% majority.
“The Board has therefore held talks with Mr Tamplin and, despite Mr Tamplin’s Consortium still being extremely keen to complete its proposed investment in the Club, the Board of Directors has decided to withdraw its support for the Consortium. Accordingly, the Consortium has withdrawn from the process.
“The Board would like to express its sincere thanks to the individual consortium members for their offer and, in particular, Mr Glenn Tamplin who has conducted himself in an exemplary manner during the whole process.
“Unfortunately the step proposed by the Board has been just too much for the current membership.
“The current Board will now arrange for the necessary finance to be put in place for the Club to continue at its current level. It will hopefully submit new proposals to its Members at its upcoming AGM.
“The scheduled Fans Forum that is due tonight will still go ahead but now hosted by Managing Director Steve Thompson”
The Daggers currently sit in third place in the Vanarama National League table, as they look to seal an immediate return to the Football League.