Blue Square South side Weymouth FC have been saved by the brink of liquidation by a consortium led by Chris Ryan. Until the consortium offer it had looked as if it was really the end of the road for the Terras who are around £700,000 in the red. But with Ryan’s consortium promising to inject more than £160,000 into the club and entering talks with the administrators to break even within 12 months, it seems football at the Wessex Stadium will continue. Former Cambridge United chairman George Rolls had also
Blue Square South side Weymouth FC have been saved by the brink of liquidation by a consortium led by Chris Ryan. Until the consortium offer it had looked as if it was really the end of the road for the Terras who are around £700,000 in the red. But with Ryan’s consortium promising to inject more than £160,000 into the club and entering talks with the administrators to break even within 12 months, it seems football at the Wessex Stadium will continue. Former Cambridge United chairman George Rolls had also made an offer for the club.
Things are less happy at Chester City who are bottom of the Conference having already been deducted 25 points for breaches of financial rules. They have been given a new deadline of November 30th to pay their football debts. Controversial owner Stephen Vaughan no longer meets the requirements of the FA’s fit and proper person test because he has been disqualified as a company director until 2020. It follows his involvement in a £600,000 VAT fraud. FA rules mean that he can now only hold 30 per cent of the club’s shares, so he will have to reduce his stake. There is a suggestion that Vaughan could transfer the shares to one of his sons, but whether the FA would be satisfied by that move remains open to question. However, the club could be expelled if they do not pay their football debts which includes money owed to Vauxhall Motors for a loan signing and to Wrexham for away ticket sales.