Orient buy-out talks with Becks' advisor fail (From East London and West Essex Guardian Series)

Orient buy-out talks with Becks' advisor fail

3:24pm Thursday 5th February 2009 in

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BUY-OUT talks at Leyton Orient have collapsed.

Chairman Barry Hearn had been in discussions with a consortium led by David Beckham’s advisor Terry Byrne.

But earlier today (Thursday) the club announced that the deal has fallen through.

The failure of talks at board level comes on the day the club unveiled Geraint Williams as the new first team manager.

Mr Hearn’s decision not to sell his shares to the Byrne group could be related to conditions the Orient chairman attached to the sale of his interest.

Mr Hearn stated in this week’s Guardian that he would only sell his shares to a body with the club’s interests at heart.

He said: “If I sell my share I will want to make sure I’m selling to the right people.”

Hearn has stated his desire to continue to seek a buyer.

He said: “If they [the Byrne group] don’t give me the assurances I want, I will still actively pursue new ownership untill I find the kind of people I’m looking to put in place.”

It is understood that up to three other parties have expressed interest in buying Leyton Orient FC.