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Football: Red tape holds up Morgan's buyout.

LEGAL technicalities are delaying tycoon Steve Morgan's takeover of Wolves, the Wanderers chief executive Jez Moxey has revealed.

Moxey had envisaged announcing completion of the deal this week but hold-ups mean that plan has been scuppered.

Yet despite no new timeframe being set, the club is confident the handover will take place "in the very near future".

The Wolves chief said: "The complex nature of the ownership of Wolves by the Hayward family trust in the Bahamas and the fact the parent company is based there means the legal details are very technical.

"It is taking a bit longer than we first envisaged for the respective legal teams to finalise the documentation but there are no problems with the deal."
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Title Annotation:Sport
Publication:Liverpool Echo (Liverpool, England)
Date:Jun 22, 2007
Words:120
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