ACCRINGTON Stanley’s second biggest shareholder Ilyas Khan has revealed he will refuse to support plans to buy the club that could threaten its future.

Chairman Eric Whalley has accepted an offer for his majority shareholding from Dave O’Neill, who intends to bring in further investors, and a deal was hoped to be finalised soon. But Khan, who owns around 15 per cent of the club’s shares, has raised concerns that O’Neill’s plan may involve borrowing against future revenues.

If that proves to be the case, the 46-year-old, who has made several large cash donations over the years, insists it would run the risk of Stanley falling out of business.

“I do support David O’Neill,” said Khan. “I spoke to him a few weeks ago and he’s got the energy and ambition to take Stanley forward.

“But I’m questioning his ability to complete the deal. If he’s loading the club with debt, then I won’t support it. It’s come to my attention that David and his buyers are trying to raise money by selling the future revenues of the club.

“We cannot hock the club. It only takes one instance of missing an interest payment and then the club is in trouble. I’m from Accrington and the only thing that matters to me is the future of the club.”

Khan would be prepared to purchase Whalley’s shares if a satisfactory deal fails to occur, saying: “If David has not got the money, or has lost the bottle – then I will step up.”