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Articles about football clubs facing or going into administration.
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.
Kidderminster Harriers are on the brink of administration. They face a winding-up petition in the High Court on Februart 23rd over £16,000 owed to Revenue and Customs, the first instalment of a £83,00 debt. Their total debt is thought to be around £300,000. The club’s bank account has been frozen. The players have not received their wages for January.
Zamaretto Premier League club Windsor and Eton have been wound up in the High Court. The winding up order against the Royalists was brought by the roundheads of Revenue and Customs over a £60,000 tax debt. However, this was the tip of the iceberg with the club’s total debts being around £250,000.
Administration is a real threat at Conference outfit at Kidderminster Harriers, but meanwhile a power struggle for control has broken out between former members of the board and those currently in charge. The club could also face a points penalty if they are found to have broken Conference rules on financial reporting at a hearing next week.
Two non-league clubs that were on the brink of folding, Welling United and Windsor & Eton, have managed to survive at the last minute.
In the case of Welling in South-East London they originally owed Revenue and Customs £97,000. They managed to pay off £37,000, but were facing a winding up order in the High Court tomorrow. Their supporters rallied round and managed to pay off the remaining £60,000.
Plymouth Argyle has been given 63 days by the High Court to sort out its fnances. This will not be easy given that its total debt is estimated at £7m – £9m. As far as the money it owes the tax authorities is concerned, it was able to pay off £48,000 which is really a drop in Plymouth Sound. What the club really needs is new investors, but the question is how attractive a prospect is it with other clubs available in
It now looks increasingly likely that Windsor & Eton will be wound up in the High Court on Wednesday. They will follow the likes of Ilkeston, Chester and King’s Lynn who have all closed in the last year, while Welling United is in danger.
Plymouth Argyle may try and hold the ball up by the corner flag as they play for time at their winding up hearing on Wednesday. A 56-day stay of execution might allow them to raise money through player sales in the transfer window, although the amounts raised are unlikely to be huge.
Company accounts are often difficult to read unless you have specialist training, but it has been suggested that in successive years the club has incurred high operating charges which are not very transparent.
A Different League has posted a frank and revealing interview with Dundee chief executive Harry MacLean. As well as giving some insights into the situation at Dundee, he also discusses Scottish football more generally which he see as ‘a declining product’.
The administrator of Dundee FC, Brian Jackson, has described the 25-point penalty imposed on the club as a ‘serious blow’ to his efforts to save the club. It makes relegation to what is the third division of the Scottish system a real likelihood, making the club much less attractive to prospective investors. Even if things went well, it would take two years to reach the SPL.