The Cryne family have reached a settlement over the repayment of money owed to them following the sale of Barnsley Football Club.
Patrick Cryne sold the majority of the club in 2017 to a consortium fronted by Paul Conway and Chien Lee, but payments due as part of the deal were later withheld amid a dispute between the two parties.
Jean and James Cryne – the widow and son of Patrick – launched a legal action against the club's majority owners in 2020 but have now reached a settlement and will be repaid the money in full, in instalments starting in August next year.
A club statement read: "We are delighted to announce that a settlement between Barnsley Football Club Ltd, BFC Investment Company Ltd and Oakwell Holdings Ltd has been reached, regarding the ongoing court case."This litigation originated from a dispute concerning outstanding sums due for the purchase of the club, and the terms of a call option regarding the purchase of Oakwell, which was incorporated in the original agreement at the time of change of control at the Club in December 2017.
"The Cryne family (Oakwell Holdings Ltd), will be paid the full amount due but have agreed to a long-term payment plan with payments only beginning from August 2023 onwards.
"All parties are delighted that all matters related to the court case are now resolved. The club and the board look forward to working together with the Cryne family as trusted partners, for the betterment of the town and club."
Lee and Conway are still part-owners of the club but were recently ousted from the board in a coup which saw Neerav Parekh become chairman while Jean Cryne was made a board member.
