A DEAL to sort out shares in the Galpharm Stadium has collapsed.

Now urgent talks are to be scheduled to try to resurrect the deal.

There had been hopes that the deal involving Huddersfield Town, Huddersfield Giants and Kirklees Council would have been signed and sealed by Christmas.

But to the anger of Huddersfield Town fans, that has not happened.

There have been crucial behind the scenes talks trying to broker a new deal but those have not yet come to fruition.

The dispute has dragged on for more than five years and centres on the shareholdings in Kirklees Stadium Development Ltd, who run the Galpharm.

Town originally held a 40% stake in the company, Kirklees Council has another 40% and the Giants had 20%.

But in 2005 then-Town chairman Ken Davy transferred the football club’s stake to his company Huddersfield Sporting Pride.

He said the move was necessary to protect the Terriers from the stadium’s debts.

Huddersfield Giants chairman Mr Davy agreed to transfer the shares back to Town as part of the deal which saw Dean Hoyle take over as chairman in 2009.

But the deal needs the consent of the third stakeholder – the council – before it could go through.

Senior councillors backed a deal in August but last night confirmed it had not gone ahead.

Council leader Clr Mehboob Khan said: “We were very concerned to hear that the transfer of shares had not proceeded as planned and agreed by all parties.