Huddersfield Town Chairman Ken Davy (pictured) used his page in the Oldham Athletic matchday programme to discuss the recent bid for the Football Club from former Hull City chief Adam Pearson.

His notes from the programme are below:

"I will begin these notes by addressing the issue which has been making headlines over the past few weeks.

As everyone knows we received a very public, unsolicited approach from Adam Pearson to buy the Club. At the same time he was linked, and may still be, with approaches to Derby County and Sheffield Wednesday. He was also well aware from a previous conversation that Huddersfield Town was not for sale. Nonetheless, I was happy to meet with him and after careful thought we responded in what I firmly believe was a very constructive and positive way.

Our proposal has been grossly misrepresented in the media and I reject completely any suggestion that it was disingenuous. We offered him a 40% holding in Huddersfield Town and the Chairmanship which would have given him full control as under Company Law the Chairman and Directors' control a company, NOT the shareholders. He was asked to match the £1.7m we have already put into the Club and as we would not be taking any money out of the Club and Adam would be running it, he would have been able to use these resources to take the Club forward. We understood this was what he wanted. Furthermore, I offered to continue to provide 60% of all future funding, but give him a greater share of any increase in value generated. In summary, I believe we have dealt with this approach in a very professional manner and given a very positive response in line with what Adam told us he was trying to achieve.

However, our response fell on stony ground and from statements that Adam has made to the media there seems to be no indication of any change in view. We therefore consider the matter closed and wish him well with his negotiations elsewhere.

My regret through all of this is that it has only served as a distraction from the real business of trying to achieve success on the field.

Everything we are trying to do here is for the long term success of Huddersfield Town. We stated in 2003 that there would be no quick fixes. Football in general and Huddersfield Town in particular have seen too many of these. We have a great Club with a great history and tremendous potential but all too often you, the fans, have had to endure brief periods of success followed by long periods of disappointment. A glance at our neighbours Bradford City, who have dropped like a stone from the Premiership to the old Fourth Division, is an example of the folly of building long-term success on sand. What we are passionately trying to achieve for Huddersfield Town is success based on a solid foundation which will last for a generation and beyond. This requires time and patience. I can fully appreciate everyone's disappointment at our lack of progress this year and last, but we have set clear objectives and intend to see them through. In sport there are no guarantees, however I am confident we can take the Club into the Championship - and we are determined to do just that.

On the football front we are, frankly, very disappointed with recent results and very much share your frustration and disappointment at these results. I can, equally, assure you that the Board is working actively with Andy Ritchie to rectify matters. As you know he has already brought in six players, including two loans, with Championship or Premiership experience to strengthen the squad and we shall not hesitate to take further action if required.

There are a great many people who recognize what we are trying to achieve and know what we are determined to deliver, and on behalf of the players, the Board and everyone at the Club, I thank you for that support. In any club, association or business, people have disagreements or they may not all agree on the way forward, but at the end of the day somebody has to take decisions, somebody has to provide the resources and - as we have demonstrated in our response to Adam - we are, of course, open to investment.

On a different tack, the players, directors and staff here at Town are pleased to be supporting the message of 'One Game, One Community' this afternoon. This is part of our commitment to supporting the "Kick It Out" Week of Action which is taking place between the 18th and 30th October. We are committed to doing everything in our power to ensure communities of all races, cultures and religions feel welcome at the Galpharm. We also wish to use today to make clear our abhorrence of racism and discrimination. Please join us in supporting this initiative this weekend.

Finally, I would like to welcome everyone to today's game, especially those who are supporting Huddersfield Town. I would also like to welcome those supporters from Oldham, including the directors, manager and the team."

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