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Wolves boost profits

The financial benefits of being in the Premiership are evident in the latest set of financial results from Wolves.  The club recorded a profit of £9.1m in contrast to a big loss of £4.9m last year.   Turnover more than trebled from £18,3m in the Championship to £60.6m.  Additional revenue was obtained from the sponsorship agreement with and higher ticket revenue from average attendances which rose from 24,153 to 2

Cup cash bonanza for County and Orient

Although it eventually ended in disappointment, the cup run of Notts County shows what such success can do in financial terms for a lower league club.   County received £112,500 in prize money, £216,000 for the screening of the two ties with Manchester City and at least a quarter of a million in gate money.

Argyle take step towards administration

Plymouth Argyle have issued a notice of intention to appoint administrators.   They now have ten days in which to decide whether or not to appoint administrators.   The move will give them protection against creditors, but it will incur a ten point deduction which puts them in danger of relegation.  This makes them less attractive to investors, although no serious expressions of interest have been forthcoming anyway.

New financial crisis hits Darlo

Darlington FC has been plunged into a new financial crisis and the future of the club has been placed in jeopardy.  Chairman Raj Singh has said that he may walk away from the club after the holding company that owns the club's Northern Echo Arena stadium and the surrounding land was placed into receivership.   He is thought to be putting £20,000 a week into the club.

Further financial challenges for Phoenix

In addition to disappointment on the pitch, the only New Zealand team in the A-league, Wellington Phoenix, are facing further financial challenges.  Their owner, Terry Serepisos, is facing further court hearings over his financial plight, although bankruptcy filings may simply be a negotiating tactic.   Unconfirmed press reports also allege that he has been the victim of a Nigerian-style financial scam costing him $750,000.

Russians make Pompey bid

It has been confirmed that Russian sports consortium Convers Sports Initiative have been in talks with Portsmouth about a possible takeover.   The Russian group was involved in a failed bid to acquire Bournemouth last year.

The consortium are involved with Ferrari Russia and Spartak Moscow ice hockey club.   A key figure in the consortium is Vladimir Antonov who is listed as one of the 200 richest men in Russia.

Stags make progress in ground battle

Mansfield Town look as if they are making progress in their battle to regain control of their Field Mill ground.  Their legal dispute with landlord Keith Haslam has been referred by the county court to the High Court.

The judge also ruled that Haslam would not be able to attempt to repossess Field Mill until the counter-claim of current owner John Radford is resolved.  The Stags will pay rent for this season and next in two £95,000 instalments into an account jointly controlled by both men.

Directors will continue to bankroll Pirates

The directors of Bristol Rovers will continue to bankroll the club and there is no risk of the Pirates going into administration even if they lose their battle against relegation to League 2.   Rovers'  last set of published results which covered the 12 months to June 2009 revealed a loss of more than £1.7m and debts approaching £4m.

Shrimpers face new winding-up petition

Southend United are facing another winding-up petition for unpaid taxes thought to be around £30,000.   The club has been losing £100,000 a month.   It has faced a number of financial crises over the past couple of years.   It has secured permisssion from the local council in the last couple of days for a phased construction of a new stadium at Fossetts Farm, but funding remains an issue.

O's step up pressure on Olympic Stadium

Leyton Orient are asking the Premier League to consider the impact on them of West Ham's move to the Olympic Stadium which is less than half a mile from the Matchroom Stadium.  Orient chairman Barry Hearn argues that the move would breach Premier League regulation I, part 6.6 which stipulates that 'no club shall remove to another ground' if that move 'could adversely affect clubs (or Football League clubs) having their registered grounds in the immediate vicinty of the proposed location.'