ALBION chairman Dick Knight will NOT allow Stephen Purdew to take a controlling interest in the club.

He is prepared to have further talks with the Bedfordshire businessman, but only if Purdew invests within the existing Board structure.

Knight broke his silence over Purdew's bid at a fans' meeting at the Island nightspot on Hove seafront last night.

He said: "The Board will reject terms from any potential investor demanding control of the club as a condition of their investment.

"In the long battle to put the club on the road to recovery we agreed a shareholder restructuring with the FA which did not allow any one person or organisation to gain control.

"I have had one meeting with Stephen Purdew and made it clear to him that we are not prepared to change the ownership rules. If he is willing to invest in partnership with the existing structure I am happy to have further discussions.

"The club has received no firm offer in writing from him, just a letter confirming his interest in investing. The recent Mark Goldberg experience at Crystal Palace shows that pouring millions into a football club doesn't necessarily create the right environment."

Under the takeover deal negotiated by the FA the Knight consortium had 49.5 per cent of the shares, former chairman Bill Archer the same and director Martin Perry the one per cent balance of power.

Since then Ray Bloom has returned to the Board with a 16.67 per cent shareholding. Knight now has 37.92 per cent, his colleague and finance director Bob Pinnock 3.33 per cent, Archer 41.25 per cent and Perry 0.83 per cent.

Knight said the idea of Purdew purchasing Archer's minority shareholding would be an "interesting scenario."

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