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The headline is 'being made vice president', but the real story is in the final paragraph: "I will step down as Chairman with immediate effect. Whilst I made the earlier decision to go at the end of the season, it has become increasingly obvious to me that the interests of the club are better served by allowing the Board to continue the plans for the rest of this season, particularly as they will naturally impact upon next season as well."

No matter how I try to look at it, it doesn't feel like a good sign.

Of course it is a good sign, Thea has to step down before we can let the hiring and firing commence...should be an interesting month and good to see the takeover is imminent

MidDevon wrote:Of course it is a good sign, Thea has to step down before we can let the hiring and firing commence...should be an interesting month and good to see the takeover is imminent

Would have been a good sign if coupled with an announcement stating that the new owners are in place & want to take over immediately & prepare for next season, as it is, could this be a case of rats/sinking ship?

It is impossible to say whether it is good or bad news based on the announcement. Hopefully hear some developments in the next few days regarding who will be leading the club (Kelvin Thomas?) and/or new financial backers.

I would say everything is happening in the order you would expect with new owners coming into the club. The speed of this is quick, leading me to think that negotiations have been ongoing for some time.

That is why I am sure today's announcement is good news

Unexpected announcements are not usually good news, I guess the pressure has become too much for her.
Who is picking up the weekly tab now?

I am not sure why some people thinks this is unexpected....Thea announced she was stepping down a while back, do you expect the club to have 2 chairman going into next season?....I say again, the progress on this is indicating new owners are just around the corner.

Even Justin King at Sainsburys announced he was leaving as CEO before he actually did, and again before an appointment was announced. The bottom line is until a senior member of a company resigns there is no real intent to do so, and until a Chairman resigns there is no position to fill....unless of course there is a hostile take-over....in Thea's case I doubt she would hold less than 51% of the shares anyway.....her stepping down now is just part of the process. I for one am happy it might all be resolved before the end of the season.

I agree, if this can be resolved before the end of the season, it will give the club longer to try and inject some enthusiasm into the local community and back into the fan base before the attempt to sell season tickets begins.

Thea has done well and i hope she enjoys life after United.

I take this as positive as well, no pint in taking every bit of news (or no news) and creating a negative out of it. Even if the club has to live on the income from gate receipts, and that would probably mean part-time, so be it. Im fedup with doom and gloom all the bloody time. Those who predict it, well done, that's very easy to do, and you might be right, but you might not.

From my point of view I also believe this is good news. It shows times are changing and surely she wouldn't just walk away early, something must be in place. Just waiting for an announcement soon.

I have heard from a reliable source that they are struggling to find someone who wants to take the club on.

Does that mean that Phillips and Baker will become acting Chairmen until someone new is announced?

OR are they about to announce their own bid - now that would be bad news !!

If they do I'll be joining Brucie up at Sid James

I applaud peoples optimism for believing a new chairman will be found quickly, I don't think it is that simple to find someone to take over a club in decline, its not an investment opportunity after all, if and who ever decides to come in is faced with the prospect of having to be able to write off many thousands a year just to be the owner, the club runs on a loss. My opinion is that the only way forward is a move similar to Exeter City........

Yes I agree a proper football club. Something to be proud of, not ashamed.