Andy Pilley’s son, Jamie Pilley, is expected to assume control of Waterford FC in the interim period, as the club await news of their owner’s impending prison sentence.
Pilley was found guilty of four counts of fraud by Preston Crown Court on Friday last, and could be looking at a significant stint behind bars as a result, having been found to have benefitted in the region of £15m by virtue of various fraudulent activities.
Mitchell Cowling, who was Chairman of Waterford FC during the Richard Forrest era, has publicly declared his intention to purchase the club as a cloud hangs over the RSC, though it has been reported that there are currently no talks ongoing regarding the potential sale of the Blues.
Pilley, 52, has been remanded in custody since last Friday’s court hearing found him guilty of all charges conferred relating to multi-million fraud at his energy business, BES Utilities.
He stepped down from his role as Chairman of Director of English club Fleetwood Town on Friday, the club he has helped to bankroll all the way from the ninth division to English football’s third tier, Sky Bet League One.
He will be replaced on an interim basis by chief executive Steve Curwood.
In a statement, it was announced that the club is now for sale.
The statement read: "The club have this week entered discussions with the EFL in relation to requirements surrounding a change of ownership and control.
"The club would also like to clarify there will be no other changes to the board before the planned change of ownership.
"In the meantime, the club will continue to operate business as usual and will make a further announcement in due course.”
Mr. Pilley is set to be sentenced on July 3rd, though it is possible that date could be changed to an earlier date.