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description= Posts about Debts written by John Beech;
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registration textbooks an extended list of recommended books relevant books for the thinking football fan meta create account log in subscribe entries rss comments rss posts tagged debts previous entries round up of season 2011 12 posted by john beech on september 8 2012 the 2011 12 season has been characterised by long running sagas normally i find myself in an annual review recounting a series of relatively self contained accounts of the woes which have beset a number of clubs but many of those listed below are far from resolved scenarios the selection is not systematic it consists of the clubs who have found themselves on my radar screen further suggestions are welcomed ashford town for a club to have its two co owners feuding 1 was always likely to lead to tears before bed time add to this a withdrawal from its league in 2010 2 and there is a clear downward pattern this july hmrc issued a winding up petition 3 billingham town a long dispute with hartlepool over who should pay for improvements to the billingham stadium 4 had been resolved in december 2010 but in january this year billingham sought to wind themselves up 5 however hmrc then stepped in with their own winding up petition 6 the former of the these two seems to have been granted in april 7 but nonetheless the club is still is playing any insight into what has happened would be much appreciated coventry city coventry city have faced financial problems since their relegation from the premier league in 2001 not least because of the development of the ricoh arena a less ambitious materialisation of what had originally been called arena 2000 originally designed with a retractable roof and a removable pitch 8 in 2007 in a moment of financial crisis with the club having announced its intention to go into administration it was bought by venture capitalists sisu since then sisu has failed to inject enough money to buy back the rich from the local council and a local charity sisu have struggled to find the right balance between economising and maintaining team performance thus causing complaints from fans the financial struggle led to sisu stopping paying the rent for the stadium in april this year in an attempt to force a lower a rental the confrontation was resolved in court last month but details have not been made public 9 croydon athletic the imprisonment of owner mazher majeed for his part in cricket s spot fixing scandal last november 10 made the club unsustainable it was promptly fined and deducted 10 points 11 adding another straw to an already broken back unable to find a new owner the club withdrew from the isthmian league unable to fulfil its fixtures 12 a resurrection club afc croydon athletic has been formed however 13 darlington a sorry tale of desperation and despair covered in postings passim and on the twohundredpercent website but eventually one of hope in early may fans group darlington 1883 finally succeeded in taking over the club 14 but at what a price the club had been forced into exile 15 and 16 and demoted to the northern league division 1 17 onwards and upwards harlow town another sorry tale this time tied up with the owners divorce 18 and 19 note the dates the club entered a cva back in september 2009 20 last november the club faced a winding up order from hmrc 21 but this was finally dismissed in february in the same month new owners had taken over 22 any further insight from local readers would be appreciated kettering town not the ultimate car crash that comes lower down the posting but certainly one of the most dragged cases see postings passim and on the twohundredpercent website the season just finished was yet another traumatic one having started the season by going into exile at the former rushden diamonds stadium in irthlingborough less than ten miles away there seems to have been no synergy in attracting new fans as is reflected in the appearance of fan owned afc rushden diamonds also in exile at wellingborough ground sharing with wellingborough town less than five miles from irthlingborough debts built up and in june the club had to enter a cva with debts reported to be 1 2m 23 and hmrc hot on the club s heels 24 meanwhile want away owner imran ladak had handed over the reins to acting chairman george rolls at least until he was suspended from football for five years by the fa 25 ritchie jeunne took over as chairman 26 albeit extremely briefly and now in a chainraiesque twist ladak is back 27 the long suffering poppies trust continue to fight on doggedly 28 notwithstanding demotion and a 10 points penalty 29 neath chased over debts by hmrc and then barclays 30 the welsh premier league club was wound up at the end of may 31 northwich victoria another depressing season for the clubs fans evicted from their stadium 32 and then a crazy saga about where they could and couldn t play 33 and expulsion from the northern premier league 34 you couldn t make it up plymouth argyle it seems some time ago now but the final chapter in the club s survival was last october and so within last season mark murphy has a neat summary of events here port vale yet another long running saga see postings passim and twohundredpercent for details notable events and non events during the 2011 12 season were the appointment of an administrator in march 35 the lack of an attempt to take over by long time suitor mo chaudry 36 and the administrator s misplaced faith in keith ryder as a potential owner 37 portsmouth here we go yet again the club as company has been more or less continuously the basket case of english football for the past four decades and this last season has proved no exception with the arrest of the latest owners in november 38 and a now familiar drop into administration in february i m going to hold back in my lengthier comments for the moment as we seem to be on the point of either the start of a new chapter in the saga or dénouement suffice it to say in the red corner is balram chainrai threatening to save the club again to me this is a bit like giving up smoking you can t logically apply the phrase on more than one occasion in the blue corner is the pompey supporters trust vested interest declared i have made a pledge to buy shares and would urge all pompey fans to do likewise here prescot cables in an act all too rare in english football the supporter owned club took the difficult but realistic decision to return to amateur status 39 rossendale united effectively defunct at the end of the previous season the club still appeared on my radar screen in march the club was still being chased for 37 000 by hmrc 40 in january the defunct stadium had been gutted by fire 41 and the next month the owner andrew connolly had announced plans to redevelop the site with 50 new houses 42 this forced the abandonment of plans for a resurrection club 43 rothwell town which is by the way five miles from kettering and thirteen from irthlingborough in may 2010 the club had withdrawn from the southern league due to financial difficulties 44 and a mooted rescue did not materialise 45 last october the club went into administration 46 and in march the ground was put up for sale 47 as far as i can make out there have been no further substantive developments again any local input would be appreciated stockport county yet another season of uncertainty for county see postings passim and twohundredpercent the end of a ground sharing agreement for edgeley park with sale sharks will have added to the financial pressures 48 truro city an interesting case of amazing success on the pitch driven by a benefactor which has proved unsustainable 49 the club has been pursued by hmrc 50 struggled to play its players 51 and at the start of the current season has had to seek protection through administration 52 two mysteries remain the involvement of the salisbury city chairman william harrison allison 53 and the sale of the ground 54 the timing of the latter will guarantee that this story has legs widnes the joker in this particular pack destined to be an obscure name that only reappears occasionally in pub quizzes it marks an attempt by steven vaughan he of barrow chester and at one time allegedly wrexham fame see postings passim through his son to create a football club from scratch originally to be called widnes town 55 it had to change its name on the not unreasonable grounds that widens town already existed 56 finding a ground to pay at proved challenging 57 and stephen vaughan seems to have opted to weave his own very particular brand of football magic in malta instead 58 very roughly the clubs involved fall into two groups first here are the league clubs here there seems to be a continuing trend of slightly fewer clubs getting into financial difficulty but those that do do so on a grand scale and perhaps do so on a kind of cyclical basis one crisis leads directly to the next one the second group the non league clubs frequently display benefactor withdrawal syndrome bws the unsustainability of this business model becomes particularly problematic when the benefactor has lifted the club up the pyramid to a level where his withdrawal makes survival especially difficult clubs like crawley town and fleetwood are surely vulnerable to bws not to mention the league and premier league clubs of much longer standing who have become benefactor dependent when i started preparing this posting i did so with as close to a sense of cautious optimism as i manage with the natural exception of portsmouth surely things were beginning to look a little rosier in the football football finance garden having completed it i ve fallen back to more usual mood of pessimism wondering when club owners are going to get a grip and face reality full marks to prescot cables as an exception not that aren t some good practice stories out there wrexham and chester provide the most encouraging examples at least fifteen years ago i wondered when the bubble was going to burst this has obviously proved the wrong metaphor suggestions for a ...
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