THE fate of Kidderminster Harriers hangs in the balance as Stratford-based businessman Chris Swan described his chances of buying the club as ‘less than 50 per cent’.

Swan seemed in pole position to take over the cash-strapped Aggborough outfit after a last-ditch attempt by the club’s board of directors to find extra-funding fell through.

Harriers released a statement claiming the property entrepreneur wanted to complete the deal today.

However, speaking to The Shuttle, he underplayed his chances of buying the club, citing in-fighting and Harriers’ dire financial situation as causes for concern.

Swan and right-hand man Mark Fennemore, who both attended Harriers’ 4-0 rout of Hayes and Yeading in the Blue Square Bet Premier on Saturday, admit they have been astounded by the debts they have discovered while examining the club’s books during a period of due diligence.

He revealed Harriers were given a winding-up order by HM Revenue and Customs on January 6 for outstanding debts, thought to be in the region of £75,000, which will be heard on Wednesday, February 23 at the Royal Courts of Justice in London.

He also claims he’s discovered an extra £50,000 worth of small creditor debt.

“At the moment there’s less than a 50 per cent certainty I will be taking over,” commented Swan.

“There are a host of problems which need to be sorted out, not least the finances. Everyone has to stop the in-fighting and work together.

“I am taking a massive flier buying the club and unless all the problems are resolved I won’t be able to.”

The strain of Harriers’ financial situation took its toll as chairman Mark Serrell was rushed into hospital on Monday, which effectively ended an attempt by the Stourport-based businessman to bring in new investment.

He was set to be backed by well-known Kidderminster entrepreneur John Davies, who was prepared to lend Harriers a five-figure sum against the club’s lease, which runs until March 2045.

However, he decided not to go ahead with the move because of Serrell’s health scare.

“I was willing to lend the club a substantial amount of money in order to help Harriers,” said Davies.

“However, with what’s happened to him I don’t think it would be appropriate to put any more pressure on him.”

The failure left Harriers on the brink of administration, with the club unable to pay management, players and staff on Monday.

If he does take over the club, Swan, who splits his time between his businesses in England and America, would install Fennemore as his general manager.

In a further twist, director Keith Chandler rejected the gift of one of the five controlling shares in Aggborough Holdings which is the major shareholder in the club. The Pershore-based architect was given the share by ex-chairman Dave Reynolds, who cut his ties with Harriers a fortnight ago.

This means the decision to sell the club to Swan will be made by Serrell and Allen, who own one share each in the parent company, along with former chairman Barry Norgrove.

The fifth share belonged to Gordon Howard, who died last year and the voting rights associated with it are unlikely to come into play.

Chandler is also not prepared to sell his existing shares in Harriers to Swan.

He said: “Dave Reynolds wrote a letter stating he would give Wayne Allen and I one share each in Aggborough Holdings. “I do not and never have wanted it, I am not a member of Aggborough Holdings or its board of directors. “If Chris Swan buys the club I will not sell my shares to him for my own private reasons. I will remain a director of Harriers’ board until anyone tells me differently. “Wayne Allen and I told the players, management and staff they would be paid on Thursday but unfortunately we are not able to do that. “The most important thing is the club’s employees are paid because they have bills to pay and famillies to look after. “If we cannot do it then we should allow in someone who is capable of doing so because the staff have all been excellent and deserve better.”