Pegasus club committee to make buyout bid

Thurrock Gazette: The Pegasus Club The Pegasus Club

THE committee responsible for running a popular sports and social club which is under the threat of closure is to put forward a make-or-break buyout scheme to members.

After growing frustrated at the lack of communication offered by administrators over potential buyers, members of the Pegasus Club, in Herd Lane, Corringham, will be asked at a meeting in two weeks to take things into their own hands by contributing to a buyout scheme.

The future of the club has been uncertain since the closure of Coryton oil refinery last June.

Before Christmas, it was revealed a “substantial” bid by Thames Oilport, the consortium who purchased Coryton oil refinery in September after Petroplus went bust at the beginning of 2012, to buy the club and put it into a trust was turned down by PricewaterhouseCoopers.

The club has still not been put up for sale, leading the executive committee to think PwC wants the club vacated so the land can be sold for more money.

In November, a council document indicated a change to green belt status, which currently prevents development on the Pegasus club land, would be put to consultation this month.

Paul Cairns, on behalf on the Pegasus club executive committee, said: “An Oilport consortium bid had been rejected by PwC and as it will not put the club up for sale, we have decided to go for a members’ buyout scheme, as this seems to be our last option.

“We will be looking for help from outside investors and local businesses and substantial interest has already been shown.

“It will be a difficult task and we are looking at a long term plan to ensure the future of the club, which will then be put in trust for the use of the local community.

“We would like to think the council and PwC would back us were we able to do this.”

Comments (2)

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6:56pm Wed 16 Jan 13

lisasargent@btinternet.com says...

At last, we are seeing the wood through the trees, literally!
At last, we are seeing the wood through the trees, literally! lisasargent@btinternet.com

8:19pm Wed 16 Jan 13

A Dermot says...

Are the Pegasus club members thick and stupid?

The Labour Leader of the Council Cllr John Kent was recently made chairman of East Thurrock Football Club and surprise surprise the Pegasus club site was put forward as a potential site for a new football stadium.

Pegasus club members you have been shafted good and proper by the Leader of the council and the football club.
Are the Pegasus club members thick and stupid? The Labour Leader of the Council Cllr John Kent was recently made chairman of East Thurrock Football Club and surprise surprise the Pegasus club site was put forward as a potential site for a new football stadium. Pegasus club members you have been shafted good and proper by the Leader of the council and the football club. A Dermot

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