Political Economy of Football
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Terras In Trouble

 

14/06/2009

Blue Square South side Weymouth may be forced into liquidation after they had their overdraft cancelled by Barclays. Relegated from the Conference, the club need 50,000 over the close season if they are to survive. They are being pressed by former owner Malcolm Curtis for repayment of money he says he loaned the club. Pledges of financial support the club received when it was saved from the brink three months ago appear to have disappeared. The club has a legacy of debt and a schedule of payments that must be made. The Weymouth board, facing crippling debts of around 500,000 after years of mismanagement, are walking a tightrope with creditors who are far from happy about their four year plan to pay back what they are owed. The club cannot borrow any money because the collateral in the form of land has gone. The underlying problem is one of excessive ambition that often afflicts such clubs. Rather than being content with Conference status, those running the club thought that they could push towards the Football League and now the club has lost its place in the top of the non-league pyramid.

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