Ridsdale relief at reprieve

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A High Court judge on Wednesday rejected Swiss investment bank Langston's bid to secure immediate repayment of up to £24million loaned to the club in 2004.

"I'm relieved," said Ridsdale. "I think that we have always accepted that we owed Langston £16million and the proceeds of the naming rights of the new stadium up to a maximum of £9million."

He added: "We feel that the action over the last seven months has been strangling the club and has been unnecessary.

"We would expect anyone who has a difference of opinion to sit down and come to an amicable conclusion.

"But all that happened was we were dragged through the courts, which was very expensive and time-consuming and stops the process of raising cash which could have gone towards resolving this dispute."

The judge was invited by both sides in the dispute to delay the full hearing of the case for two months in the hope that it can now be resolved without the need for further court action.

"I sincerely hope they will sit around the table and realise that an amicable situation is the only way forward for both parties," Ridsdale added.

The case will now go forward to a full trial of the complex issues involved - although both parties will work towards an out-of-court settlement before that happens.