HARTLEPOOL United chairman Ken Hodcroft has scoffed at claims that former Newcastle chairman Sir John Hall is about to get involved with the League One club.

Sir John, Newcastle's president and shareholder, has been a regular at Pool home games this season, fuelling rumours he was looking to invest in the club.

But Hodcroft, speaking at yesterday's AGM when the club announced a financial loss of £859,423 to the year ending December 31, 2003, revealed Sir John has become an adopted Pool fan.

"He has started coming to the game because he says he is enjoying it. It's a different type of football to the Premiership,'' said Hodcroft.

"He lives nearby and people can speculate, but that's all there is to it.''

Pool remain in business thanks the financial assistance of club owners Increased Oil Recovery Ltd - they have provided £4.4m in share capital and loans since taking control in September 1997.

During 2003, the Aberdeen-based oil company wrote off £3m from that figure.

Club turnover increased ten per cent from £2m in 2002 to £2.2m, with player, manager and coach wages increasing from £1.59m to £1.79, mainly due to bonus payments following promotion.

It cost the club almost £55,000 to write off the contracts of a number of players. The club's trading deficit is now £3.918m.

Hodcroft said: "I believe we can look forward with optimism and the club is in a strong position for the long term.

"We have had the lows of losing in the play-offs and players' existing contracts, but in Neale Cooper we have someone who will continue the commitment to bring success to the club.

"The club continues to go from strength to strength in all areas, but remains disappointed when IOR's commitment and certain actions are questioned.

"IOR work for the interest of the club and negative and untrue comments help no-one.''

Hodcroft reiterated the club's stance on wantaway defender Micky Nelson.

Hull have tabled a £100,000 bid, but Hodcroft is adamant the player will stay at Victoria Park, where he is on a three-year contract.

The chairman, who has acknowledged Nelson's request, but neither accepted nor rejected it, also refuted claims made by Nelson's agent that he was told a new, improved contract would be on the table after a year at Victoria Park.

Nelson has not been included in the last two Pool squads, with boss Neale Cooper revealing the defender has not been in the right frame of mind.

* Micky Barron is likely to be sidelined for five weeks after knee surgery this week. The Pool skipper is suffering from cartilage damage and not, as was feared, cruciate damage.

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