THOR wishes to announce that it has now completed the purchase of the Victoria Stadium at Wincham.

However we are disappointed to advise that negotiations with Northwich Victoria Football Club (2007) Limited, which would have allowed the team to use the stadium for the rest of the season, have broken down.

Thor has made every effort to assist, but at the last minute the club changed what Thor believed to be an agreed deal and has rejected the proposal.

The headline terms of the proposal on offer by Thor were as follows:

1. The club could continue to play at the Victoria Stadium for the remainder of the season, including play-offs.

2. A reduced rent would have been charged.

3. Thor would have donated the rent to the supporters’ fund.

4. Thor would have been willing to discuss assisting with the cost of ground sharing arrangements for next season.

5. Thor would have maintained and paid for security for ground access and would have opened up at 8am each morning during the season and closed at 10pm. Where there was a late kick-off, the ground would have remained open until midnight.

6. Northwich Victoria Developments Limited, Jim Rushe and the club would have agreed to vacate by the end of the season and the club could, if it wished, haveremoved the Dane Bank and main stand.

Thor however wanted to ensure that, if the club did remove the stands, they would only be used for the benefit of Northwich Victoria in the future.

7. As part of the overall deal and as a gesture of good faith, the club and Mr Rushe would have agreed not to object to any future planning application.

8. An agreed press statement would have been issued outlining the deal and thanking the parties for concluding negotiations in an amicable manner.

Beaconet Limited, the company owning the stadium, went into liquidation in January 2009.

Thor believes that the club has had the opportunity to buy the site but has not done so.

The receivers of Beaconet [Deloitte Touche] granted to Northwich Victoria Developments Limited, a company of which Mr Rushe is a director, a licence in August last year allowing use of the stadium

But this could be ended by the receiver on three days’ notice.

The club was allowed to play last Saturday’s match at the stadium as a gesture of good faith in the hope that a deal could be concluded for the rest of the season.

Thor regrets the action of the club in not agreeing to the deal proposed. As a result, the club will now not be able to play at the stadium.

Thor is happy to meet with representatives of the club’s supporters to explain the situation and its rejected offer in more detail.

Thor has now been placed in a position where it has had to withdraw an offer which it had no obligation to make in the first place.

Thor is a British-owned company. It has purchased the ground in good faith in order to expand its business which will be of benefit to the local community.