REG Brearley, the former Sheffield United and Darlington chairman, has won the fight to take over a controlling interest in St Mirren. A rival bid by local businessmen, led by former director Stuart Gilmour, failed.
That became clear yesterday after more than a week of doubt, and it comes after two major meetings of shareholders.
They first met a week past Sunday, when they decided to give the go-ahead for the club's directors to float new shares - but not to offer them to the public.
Then last Sunday they gave the go-ahead for these shares to be offered to Brearley in preference to the other group of local businessmen after hearing the plans of both sides.
However, the five major shareholders won the right to have an overseeing interest and met the board again on Monday evening.
Yesterday St Mirren managing director John Paton issued a statement confirming Brearley was to get the chance to move into the club.
The statement said: ''St Mirren have agreed to accept an investment package from Reg Brearley, which, subject to certain terms and conditions, would afford him controlling interest in the club.''
The statement went on to confirm it was hoped to complete the deal very soon. However, Saints fans will now want to know if, when the deal is completed, Brearley will be putting fresh money into the club - and how much.
Recently manager Tony Fitzpatrick suggested it would be a waste of time if money was not brought in to enable him to strengthen the squad.
This is yet another major change in the first division and shows the acute financial problems facing clubs in this division in particular.
Only last Thursday, Falkirk went into liquidation and are now fighting for their future with the threat of closure at the end of the season hanging over the club.
Also, it is just weeks ago that Partick Thistle were saved - at least for the present - after creditors decided to accept a 40 pence in the pound offer to settle the club's debts.
That was after the directors had confirmed that earlier in the season the club had been within seven days of closing down.
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