Interest from American consortium stalls after Preston North End takeover reports

There has been no further progress with the American consortium, credited with an interest in buying Preston North End last month.

In late-April, two separate parties were said to be eyeing a move for the Lilywhites - who have been owned by the Hemmings family since 2010. After Trevor Hemmings’ passing, in October 2021, his son and club chairman, Craig, has stepped up an assumed responsibility.

Firstly, a ‘mystery Miami-based group’ were claimed to be targeting a takeover. The Lancashire Post then reported that a New-York based private equity firm had expressed interest - with a fee in the region of £45million believed to be the valuation.

The Post was never aware of any contact from the Miami consortium. As for the New York group, it’s understood that interest has cooled slightly - given the prospect of an auction. Both parties were said to be looking at other football clubs and that’s still the case for those in NY.

As for now, PNE are preparing for summer business and Craig Hemmings is ready to support manager Ryan Lowe, in his sixth transfer window. Hemmings, in an update this week, said: “The summer transfer window will soon be open. We have long since identified our targets and work is well underway to secure them, but we do urge patience from our fans. We, as ever, will try our best to do our transfer business early (it is not always possible) and we are excited about the squad improvements we have planned for next season.”

Around £11m was put into North End in 2022/23, with a further £8.9m injected since. The Hemmings family have vowed to continue funding the football club and backing the manager, while remaining consistent in their view that - should the right party come along and put an acceptable offer on the table - they would be happy to step aside.

Hemmings’ latest update continued: “We continually strive to improve the squad, whether through improved focus on the Academy (and a route through to the first team) or through scouting potential new players. Our goal remains trying to gain promotion to the Premier League. We will continue to focus on this, but at no time will we do so in a way that risks the long-term future of the club or the unique PNE heritage and legacy.”