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League 2

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Vale late with loan repayments

Submitted by WG on Wed, 08/02/2012 - 13:58

Port Vale have been late with two monthly repayments on a £2.25 loan from the local council.   The December instalment of £19,616 was paid almost a month late and the club have said that the January instalment will be paid when cash flow permits.   Around £1.8m is outstanding on the loan.


The council have made it clear that they do not wish to push the club over the edge, but have to pay attention to their obligations to council tax payers.

Ridsdale: I saved Argyle

Submitted by WG on Tue, 07/02/2012 - 12:06

Never one of football's shrinking violets, and now attempting to turn round Preston North End's finances, Peter Ridsdale reckons that it was his intervention that saved Plymouth Argyle from going bust.   There's certainly a book in his involvement at different clubs.

Football's lost city?

Submitted by WG on Sat, 07/01/2012 - 14:35

Is Bristol 'football's lost city?'    It is the sixth largest city in England, generally prosperous and growing rapidly, but neither of its clubs has won any serious silverware.

Turmoil at Port Vale

Submitted by WG on Sun, 01/01/2012 - 09:40

Following the recent departures of the chairman and chief executive, the boardroom turmoil at Port Vale is concerning Stoke-on-Trent City Council who made a £2.25m loan to the club in 2006.   The club enjoyed a two year repayment holiday from 2009 to 2011 when only interest payments had to be made.    However, payments had been made regularly in recent months.

Barnet to leave Underhill

Submitted by WG on Wed, 21/12/2011 - 08:00

Barnet are to leave Underhill next season after 104  years.   This follows a complex dispute with the local Council about the lease and access to the ground in which each side blames the other.    The club may ground share in the short term.   However, they have already built a £11m training centre in Harrow  and have gained planning permission for a stadium on the 44-acre site.

Stanley sell shares

Submitted by WG on Mon, 12/12/2011 - 17:04

Accrington Stanley do not have a massive support base and they face recurrent financial problems, but they also inspire a great deal of interest and affection.   Hence, selling shares at £100 each may be a way out of their financial problems.   They have already made sales to people from Australia, Brazil, Canda and Bulgaria.

Light! More light!

Submitted by WG on Tue, 08/11/2011 - 15:02

New Football League criteria for the standard of floodlights that have to be met by the 2014-15 season may hit financially struggling clubs in Leagues 1 and 2 hard, as well as those Conference clubs that aspire to Football League status.   Most Championship club either meet the new standards or could afford to do so.

Is James Brent the new Madejski?

Submitted by WG on Mon, 07/11/2011 - 14:35

This is a question raised in The Football League Paper  yesterday in a special centre page spread on Plymouth Argyle.   Both Plymouth's new owner James Brent and Sir John Madejski, who revived Reading's fortunes, had little prior knowledge of or interest in football, but both had a commitment to their areas.   James Brent admitted in the interview that there might be something in the comparison: at any rate it is quite flattering.

Argyle get their golden share back

Submitted by WG on Mon, 31/10/2011 - 14:00

Plymouth Argyle have made a full return to the Football League with the return of their 'golden share' by the League.  While praising the efforts of James Brent to save the club, and also the contribution made by Plymouth City Council, the League authorities made it clear that the takeover represented 'a leap of faith' by the new board.    They would be closely scrutinising the club's finances in the years to come.

Plymouth out of administration

Submitted by WG on Fri, 28/10/2011 - 13:22

After eight months Plymouth Argyle have finally come out of administration with the sale of the club to James Brent's Akkeron group.   They will exit via a Company Voluntary Arrangement which will involve agreed payments to creditors over a five year period.