It's been pretty quiet on the takeover front since the 10000Hours bid was rejected in 2012. Rumours about a Swiss consortium have surfaced every few months and it seems there is some truth to them, however that bid hasn't been completed. Now, according to today's Herald, Methven is in talks to buy the club. If he is successful he'd be reunited with Danny Lennon, who was manager of Cowdenbeath when Methven was chairman there, and a deal could possibly be wrapped up by the end of the season. Interestingly, the selling consortium have upped their stake in the club from 52 per cent to 75 per cent. This seems odd considering they couldn't shift their initial stake after more than four years of trying, but apparently owning 75 per cent gives a potential owner far more power.
I'll be honest, I don't know a great deal about Methven and what happened while he was in charge of the Blue Brazil. The view of Cowdenbeath fans seems to be rather mixed and it seems he promised much but failed to deliver. He appears to have been involved with some people called the Brewsters and had planned selling their ground so they could move to a purpose built new stadium. There was also talk of increased community involvement. The former certainly didn't happen. A Google search reveals a possible connection to Glasgow gangster Paul Ferris, which is somewhat concerning! There are also details of a directorship at various companies, few of which now exist.
The Swiss bid apparently involves former Rangers player and scout Neil Murray (if it's a takeover with a Rangers link there has to be a Murray involved). A company called St Mirren Development Ltd was registered late last year with both him and Liam O'Donnell listed as directors, so it would seem there may be some truth in that one.
You have to wonder why either of these groups, or anyone else for that matter, wants to buy the club. There is no money to be made unless you do something drastic like asset stripping. There's no point selling the ground for development - you'd be better buying the site of the old ground at Love Street as it's lying empty. Where is the money coming from? Who is involved? What are their plans? All these questions, and many others, need to be answered as a matter of urgency.
Story source: The Herald
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