KEN HODCROFT is determined to ensure Hartlepool United have a bright future – despite calling off the sale of the League Two club.

Pools confirmed yesterday that the proposed deal with TMH2014 Limited – a company specifically created to run the club under the chairmanship of Peter Harris – has been scrapped.

That led to strongly worded claims from TMH2014 that "a lot of time, effort and money has been wasted to achieve very little."

Concerns have grown around Hartlepool in recent weeks because of a lack of progress on the transferring of the club’s ownership, which had seemed set to progress smoothly when Harris was paraded at Victoria Park in mid-December.

Despite appointing Ronnie Moore as the club’s new manager, reservations about TMH 2014 Limited have been held by existing owners Increased Oil Recovery.

A process has been ongoing with the Football League to assess the merits of the prospective new owners and Northern Echo Sport understands the breakdown is not down to Harris and TMH2014 failing a fit and proper persons test.

TMH2014 insist that they had "satisfied the Football League approval process" and were "disappointed" that the Share Purchase Agreement close date could not be extended, which would have allowed them to finalise the deal.

The TMH statement added: "We were looking forward to investing in the future of Hartlepool United Football Club. A lot of time, effort and money has been wasted to achieve very little.

"We wish the manager, the team, the staff and of course the supporters the best of luck for the season."

Hodcroft is believed to have feared the club he has led since September 1997 would not have the right owners to focus on the long term.

A short club statement read: “IOR and Hartlepool United announce that the proposed sale of IOR’s shareholding in the club to TMH2014 Limited is no longer proceeding.

“Ken Hodcroft remains chairman and Russ Green continues as CEO. The club will not be making any further comments.”

Green was appointed a director of TMH2014 and was instrumental in the proposed takeover. He remains a close ally of Hodcroft and will attempt to revive the club from its position at the foot of the division.

IOR have continued to back the club during a state of limbo, Hodcroft gave the go-ahead for Moore to strengthen his squad for the relegation fight.

He was granted the funds to bring in Scott Harrison, Rakish Bingham (who has since returned to Mansfield), Aaron Tshibola, Marvin Morgan and David Mirfin.

Moore has given Hartlepool a fighting chance of staying up after a number of much-improved displays and it will be hoped the off-the-field distractions do not affect his team’s performances on the pitch.

Hodcroft was keen to draw a line under the whole takeover saga by confirming that the deal with TMH2014 has ended.

Despite the fact he is willing to listen to offers for the club, Hodcroft is determined to make sure that the future of Hartlepool remains secure despite reduced investment from IOR in recent years.

IOR are focused on keeping the club afloat and, having been involved at Victoria Park for more than 17 years, there is a desire to ensure that Hartlepool survives as a club regardless of what division they are playing in next season.

It was revealed in December that IOR were prepared to write off a £14m debt to help the takeover go through.

In the end Hodcroft had greater concerns about the suitability of TMH2014 as Hartlepool’s new owners.

Moore has helped Pools to win two of their last four games, losing just once, to bring some confidence back to the team ahead of Saturday’s long trip to Portsmouth.