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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.'

The plot thickens at Wrexham

Controversial former Chester City owner Stephen Vaughan has admitted that he was part of a consortium seeking to take over Wrexham FC.   The bid by Van Morton Investments was pulled last week because of adverse publicity, but Vaughan has said that his interest could be reactivated.  Apparently, a 'retail cosmetics magnate' was also involved in the bid.

League supremo warns of debt precipice

Football league chairman Greg Clarke has told the Commons committee investigating football that clubs are heading for a 'debt precipice'.  Interviewed later on Radio 5, he said that debt was on the increase and even if one took steps to cut it now it would be five years before any effect was seen.  At the risk of repetition, it is perhaps worth pointing out that what matters with debt is not its absolute size but whether you can service it.

United deny takeover reports

Manchester United have denied reports of a £1.6bn takeover bid for the club from Qatar.   There has been speculation about such a bid for some time, but the Glazers would want at least £1.8bn.   The latest rumours circulated after Bloomberg reported a surge in the value of the club's bonds.