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Aldershot's board had an emergency board meeting last night, with the impasse between chairman Shahid Azeem and majority owner Kris Machala threatening to derail the club.
A statement issued by the club starkly noted: 'The company is currently seeking restructuring advice and a further statement will be made within the next 24 hours.'
The local press report that Azeem offered to invest £300,000 into the club on condition that a new share issue was agreed. That move was blocked last week by Machala - after the £300,000 had already been put into the club and spent - with an 'overseas investor' ready to come in.
However, with that investment disappearing, Machala was forced to turn back to Azeem - who only became chairman in February - demanding to see proof of further funds before handing over his shareholding to the former Woking chairman. Azeem has, so far, apparently failed to meet two deadlines to show that proof. Machala says he has put £700,000 into the club, holding a 51% stake in the club, but is unwilling to put any further funds in.
