Crawley's owners have agreed to sell the Conference club to Europa Sports Promotions.
Chas and Azwar Majeed last night accepted an undisclosed offer from the London-based sports management company.
Chas Majeed said: "It is not done and dusted yet, it is in the hands of solicitors, but we have agreed to sell the club to them."
continued...
Europa managing director Matthew Pearson said: "It is great news. There is still a lot to sort out but things are definitely moving in the right direction."
The Majeeds are unlikely to see any money from the sale as most will go to paying off the club's £1.8 million debts.
Creditors are owed almost £900,000, which must be paid by the end of October or the club will be liquidated.
Chas Majeed says the decision to sell was made following Saturday's 1-0 home defeat against Grays.
The brothers suffered abuse from a minority of supporters during the game and again outside the ground afterwards.
The Majeeds have become increasingly unpopular with some fans unhappy with the way they have run the club since taking over 14 months ago.
Crawley went into administration in the summer following a series of financial problems and came within an hour of being wound up in August.
Chas said: "There is only so much abuse you can take from fans.
"It is only from a small number but when you are putting money into a club and are then getting constant stick, you get fed up in the end.
"We've had enough of it. Everyone is saying we should sell up and that other people would do a better job than us, so now we have decided to do it and see if they are right."
Europa run soccer camps for football clubs around Europe, mainly Italian giants AC Milan.
They have been trying to buy the club for the last two months and had two offers turned down by administrators in August.
They had a further £1 million bid rejected last week because the Majeeds did not believe they had the money to pay up.
Pearson said: "All our money is in off-shore accounts, which is why you can't find details of our accounts on the internet. We definitely can afford to buy the club and to run it and are very serious about wanting to make the club a success.
"It is a great club and we feel it has massive potential if it was run in the right way and we are confident we can do that.
"We also see it as a business decision and believe it will help our company expand in the UK."
Europa seem to have beaten off competition from two other parties thought to be interested in buying the cash-strapped club.
One is former Farnborough owner and Stevenage manager Graham Westley, who was at the Broadfield Stadium last Saturday.
The former Crawley player has inherited money from his late father and is believed to have held negotiations with the Majeeds.
11:34pm Monday 25th September 2006
Chas and Azwar Majeed last night accepted an undisclosed offer from the London-based sports management company.
Chas Majeed said: "It is not done and dusted yet, it is in the hands of solicitors, but we have agreed to sell the club to them."
continued...
Europa managing director Matthew Pearson said: "It is great news. There is still a lot to sort out but things are definitely moving in the right direction."
The Majeeds are unlikely to see any money from the sale as most will go to paying off the club's £1.8 million debts.
Creditors are owed almost £900,000, which must be paid by the end of October or the club will be liquidated.
Chas Majeed says the decision to sell was made following Saturday's 1-0 home defeat against Grays.
The brothers suffered abuse from a minority of supporters during the game and again outside the ground afterwards.
The Majeeds have become increasingly unpopular with some fans unhappy with the way they have run the club since taking over 14 months ago.
Crawley went into administration in the summer following a series of financial problems and came within an hour of being wound up in August.
Chas said: "There is only so much abuse you can take from fans.
"It is only from a small number but when you are putting money into a club and are then getting constant stick, you get fed up in the end.
"We've had enough of it. Everyone is saying we should sell up and that other people would do a better job than us, so now we have decided to do it and see if they are right."
Europa run soccer camps for football clubs around Europe, mainly Italian giants AC Milan.
They have been trying to buy the club for the last two months and had two offers turned down by administrators in August.
They had a further £1 million bid rejected last week because the Majeeds did not believe they had the money to pay up.
Pearson said: "All our money is in off-shore accounts, which is why you can't find details of our accounts on the internet. We definitely can afford to buy the club and to run it and are very serious about wanting to make the club a success.
"It is a great club and we feel it has massive potential if it was run in the right way and we are confident we can do that.
"We also see it as a business decision and believe it will help our company expand in the UK."
Europa seem to have beaten off competition from two other parties thought to be interested in buying the cash-strapped club.
One is former Farnborough owner and Stevenage manager Graham Westley, who was at the Broadfield Stadium last Saturday.
The former Crawley player has inherited money from his late father and is believed to have held negotiations with the Majeeds.
11:34pm Monday 25th September 2006
