WREXHAM FOOTBALL CLUB has reacted to news of Chester FC’s potential takeover by saying it won’t be happening at The Racecourse.

Both clubs are fan-owned and while the Blues bid from entrepreneur Stuart Murphy is being seriously considered, the latest club statement from the Reds says any bid to takeover the Reds would be a no-go.

“In light of the proposed takeover of Chester FC we have been asked to clarify the process if such an offer was received at Wrexham,” read a club statement, that also unveiled details of a loan former chief executive Don Bircham (pictured below) agreed with the club back in 2015.

“The answer is quite straightforward. A bid for the club could not be accepted under our current rules.

“To accept a bid for the club this rule would need to be overturned by special resolution. A Special Resolution requires a majority of 75% of members and at least 50% of members voting (Rules 51 and 100).

“Following this there would need to be a further resolution to wind up the society and distribute its assets to charitable causes in the local community (rule 105). All of the above would be a decision of the membership of the society.”

Two weeks after releasing a statement over a ‘leaked tweet’ concerning a £100,000 loan was made to the club, the board made the following announcement over a ‘cash flow issue’ five years ago.

The statement read: “Following on from last week’s communication. We have been made aware of a further directors loan made by former Chief Executive Don Bircham. This was made by Mr Bircham as the result of a cash flow issue in May 2015. This related to a late payment to the club that season.

“Mr Bircham paid the money into our account at the beginning of May and was paid back before the end of the month. The two transactions cancelled each other out and were not picked up at the time. Of course we are grateful to Mr Bircham for taking the action he felt was necessary at that time and we value his contribution to the club, not least as a long-term sponsor.

“However, it is important to note that club Board is now bound by the Governing Board and Operational Board Policy and this prevents the club Board, or individual directors, from making individual financial decisions of this nature. The interests of members are protected by the following two clauses.

“6.4 If any lending is required by the Operational Board, this must be agreed by the Trust Board.

“6.6 Should the Trust Board be asked to authorise any spend of over one percent of the annual budgeted turnover, it should be presented with a written business case, and consideration given to sharing with the membership.

“Members will note that the last instance of a short-term loan was handled in line with this policy and approved unanimously by the Trust Board at that time in 2016. There have been no cash flow issues since 2016 . This is despite the club operating without an overdraft of any kind.

“Members may wish to reflect on this policy and consider any further measures they feel may be appropriate in the current period of uncertainty.”

While the club and boss Dean Keates hang fire on announcing their retained list, Solihull Moors - who were one of the pre-season title favourites along with Wrexham - have released 15 players including 35-year-old ex-Reds striker Danny Wright (pictured).