NEWPORT County’s directors are open to investment or even a possible sale of the club, but have stressed they won’t deal with anyone who can’t prove they have the funds to make a difference.

As revealed in Monday’s Argus Sport following County’s AGM, the Exiles have become increasingly reliant on the financial assistance of chairman Les Scadding and director Howard Greenhaf in the past two years.

County reported a rise in turnover, from £1,227,623 in 2013 to £2,220,738 in 2014 (up to June 30), with gross profit increased to £161,175, up from £137,263 in 2013 in front of around fifty shareholders on Monday evening.

However, the Exiles also saw their operating loss increase from £342,408 to £567,820 (before exceptional items). The total loss for the financial year ending June 30, 2014, was £568,671. This figure is down in comparison to 2013, reflecting that chairman Les Scadding invested £263,626 to pay previous debts.

Mr Scadding’s contribution for 2014 in terms of funds and assets introduced was £588,700, with £319,650 worth of loan converted into shares. Mr Greenhaf’s contribution in terms of construction work on BarAmber and Rodney Parade was valued at £373,000, with the total converted to shares.

Argus Sport were admitted to the AGM as a proxy vote and asked directly whether there was concern about the over reliance on Mr Scadding in particular.

And speaking with Argus Sport, director Greenhaf spelled out their position, which is that the club are essentially for sale, to the right bidder.

“We are actively pursuing further investment, there is no confusion, we want to make that point very, very clearly,” he said.

“There is no sense of anyone on the board wanting to remain in their positions if it would be to the detriment of the club.

“If there are people out there with deeper pockets who feel they could take Newport forward, we would welcome them with open arms.

“We’ve talked to parties already, but nothing has stood up.”

Greenhaf admits the difficulty in making public that the club is seeking investment, is that it attracts the wrong kind of attention.

“We’ve had a lot of enquiries, we should make that clear, we have had several people ring us and request meetings in the past few weeks and months.

“But unfortunately, when you make it public that you want investment; it tends to bring out the wrong kind of people.

“We’ve had some fantastic hypothetical offers, but then you Google the people involved and realise it is pie in the sky.

“But we’ve worked hard to get more people in the board room for this season and will continue to do so.”