Peter Ridsdale: Preston North End takeover state of play after confirmed talks

Preston North End CEO Peter Ridsdale says there is yet to be significant progress on any potential takeover at Deepdale.

In late January, PNE non-executive chairman Ian Penrose confirmed discussions had taken place with US-Saudi businessman, Amr Zedan. Penrose, who took over the role from Craig Hemmings in October, labelled it ‘a complex process that requires many financial, legal and regulatory hurdles to be appropriately satisfied’.

When asked if there is anything to report on the takeover front, Ridsdale told the Lancashire Post: “Not really. First of all, I'm not getting involved in any potential takeovers until such time as Craig or Ian decide that people have got past a certain threshold, i.e. they've made a bid or they've proven funds or whatever.

“As we sit here at the moment, nobody's reached that point. And until, as I say, they go past a certain threshold which is, ‘Are you interested in taking the next step? Have you got the money? Show us the money...’ and then we'll get into some sort of due diligence process, I sort of stay out of it because I'm running the club on a day-to-day basis.

“So, as we sit here at the moment, have we been talking to people over recent months? Yes. Has anybody passed that threshold of let them loose on the management to find out the detail? We're not at that stage with anybody at this point in time.

“I think the real key and look, we're seeing this with Sheffield Wednesday, is however much our supporters are frustrated - some are; some aren’t - that we don't spend more money than we've got and are allocated... and wouldn't it be great if somebody bought us and the world would change?

“I suggest that everybody writes down all those clubs who have been bought over the last two or three years. Some have been very successful... Birmingham, Wrexham arguably. Some have been less successful and some have been very unsuccessful.

“We've made it absolutely clear that if the right people come along to take the club forward, they will be encouraged and there'll be no barriers put in the way. What we don't want to do is to find everybody on day one jumps up and down and says, ‘Isn't this great?’ and then we go backwards as a club.

“Now, you could argue it's not my problem if we go backwards, but we have a responsibility to our supporters, in my view, to make sure that whoever the next custodians are, hopefully take the club forward.

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Sky News’ article referenced a perceived ‘lack of constructive engagement’ from North End. In the same article, it said people close to PNE disputed such ‘characterisation of discussions’.

On that, Ridsdale said: ”Nobody's ever put a barrier in the way of anybody who has demonstrated to have the funds if they're keen on buying the club. There will be no barriers put in the way.”

Would Ridsdale be ready to step aside?

Ridsdale has been at PNE since December 2011, now operating as Chief Executive Officer having previously been in place as director, and adviser to the owner.

The Hemmings family have been open about their wish to now move the club on to the right people, with a two-year target recently set. While Ridsdale has always appeared to relish the position - despite the frustrations aired - he assures he will be at peace with stepping aside when the time to do so arrives.

“I am an employee and I speak to Craig all the time to say, ‘Look, if you would prefer that somebody else did what I am doing, just tell me,” said Ridsdale. “I have got a contract and they know what they consequence would be of, ‘Thanks Peter, shake my hand and go’. So, I am not hanging on...

“People seem to think I am hanging on here because I can’t go anywhere else, I am desperate to stay and all this. I committed to do a job for the Hemmings family when I came; I have committed to do that for Craig as long as he wants me. If he walked in here this afternoon and said, ‘Thanks Peter’ and shook my hand, as long as whatever my contract said was honoured, I would leave this afternoon.

“Craig tells me he doesn’t want me to. He wants me to stay until they sell and if he wants me to, I will. But, this isn’t about my ego, me or anything else. This is about me doing the job I have committed to do, for as long as they want me to do it.

“I am absolutely no barrier... some people say I don’t want to sell it because then I would be out of work. I don’t want to go into any detail but let’s just say I would be the first to applaud somebody who could take the club to the next level, if that’s what the Hemmings family want.”

LISTEN: Peter Ridsdale interview in full