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er taking stock of the situation at rossendale united it is now clear that the club has been left in a perilous financial situation over two years ago the club was debt free it is now in considerable debt after 12 years of being involved and ploughing a considerable amount of personal monies time and effort in it now seems the club is exactly where it was then this i believe is due to lack of support and generally a total lack of interest from the valley i now feel that without this interest or investment the club will cease to exist latest news from the north west counties football league is that the club will be suspended if they fail to play their next home game due on 5th march 21 their away games at squires gate last saturday and at ramsbottom united this evening had already been cancelled the end it would seem is nigh rossendale united are of course far from being alone as sufferers from bws at weymouth see postings passim benefactor george rolls has just announced that he has quit 22 at rothwell town there is a less clear picture of events there is a report that the club has sold its ground that the money raised is insufficient to cover its debts and that the club has gone into administration 23 i blogged on rothwell last may when imraan ladack of kettering town had flirted unsuccessfully with them over a possible groundshare anyone closer to the club who has more sourceable information is invited to add it in the comments section share this share on facebook opens in new window facebook share on x opens in new window x share on reddit opens in new window reddit like loading posted in benefactors cashflow debts financial doping ownership tagged benefactors cashflow debts financial doping ownership 3 comments lessons from plymouth posted by john beech on january 3 2011 the car crash that plymouth argyle is on the verge of turning into is a strange case yet many a club might well think that there but for the grace of god go they at the beginning of the nineties dan mccauley had become chairman with his predecessor peter bloom becoming vice chairman while the club did not have a particularly stable decade on the pitch three relegations in eight years seven managers the club was run reasonably stably if unsustainably on a traditional benefactor model shortly before mccauley finally stood down in 2001 debts were reported to be 2 7m with 1 8m owed to mccauley s rotolok holdings he was also advocating a new stadium the capacity of which was wound in from 23 000 to 18 000 but with scope to increase capacity as mccauley explained an 18 000 all seater stadium should be sufficient for us in the short term but it s important to have flexibility in the design to cater for success when plymouth argyle move up through the leagues sufficient is an odd choice of word average seasonal attendances throughout the decade had peaked at just over 9 000 in 1994 but had fallen to around the 5 300 mark the sort of figure mccauley was speaking of had not been seen at home park on a regular basis since the fifties 1 reaching the age of 65 in 2001 mccauley found buyers he felt would be good for the club the new board was led by local businessmen paul stapleton and peter jones and included the local mp michael foot and two london based businessmen nick warren and phil gill all pilgrim fans sources for the above paragraphs are newspapers mainly the western daily herald and are unavailable on the internet under the new regime stadium redevelopment proceeded but hit a snag when the council declined to carry on funding it 2 having already spent 2 6m it felt that it was difficult to justify further expenditure argyle vice chairman peter jones rather ungraciously argued people should not forget the council are the freeholder of the stadium given the fact that a revamped stadium will bring in more people more income and more rent they should be prepared to put in a proportion of the 5m we need from a business perspective the early years of the noughties were a success in 2004 they announced a profit for the third year running 3 and by 2005 the seasonal average attendance had reached almost 16 500 following a return to tier 2 for the first time since 1992 the ground was purchased from the council in december for 2 7m 4 how then did things start to go wrong the management of players proved problematic with continuing changes in who was manager the club managed to maintain their status in the championship until last summer that is but the fans started to drift away attendances falling to just over the 10 000 mark on average in february 2008 the club recorded a record annual loss of 715 000 5 not only were revenues down but the club had locked itself into some rather expensive player contracts the wages revenues ratio which in 2001 02 had been at a very healthy 43 1 had by 2007 08 risen to a rather unhealthy 74 4 in april 2008 the club announced a surprise new investor japan s k k shonan management corporation headed by yasuaki kagami who joined the argyle board 6 argyle chairman paul stapleton said we are excited about the future possible revenue streams from the far east in particular and expanding the horizons of plymouth argyle while this agreement has only just been concluded it demonstrates the considerable appeal that plymouth argyle and our region has for companies with a global reach i suspect that few outside plymouth shared this optimism japanese involvement increased when yasuhiko okudera was appointed argyle s president 7 and there was talk of japanese players coming to home park 8 by the summer of 2008 things were beginning to crumble the transfer budget was reported as overspent 9 by march 2009 non playing jobs were at risk 10 by the summer of that year there was talk of not only further investment from japan but also of a takeover 11 phill gill sold his shares to kagami 12 and by july kagami held 38 of the shares and his colleagues sir roy gardner and keith todd joined the board with holdings of 13 the trio thus holding a small majority the appearance of gardner in particular a former chairman of manchester united raised hopes for some stabilisation paul stapleton said of gardner he s going to bring a no nonsense common sense approach and a business attitude to everything we do 13 the challenge was certainly there though they had for example inherited a squad of over 30 players 14 there was to be no magic wand in december that year the club was placed under a transfer embargo 15 for what the club dismissed as historic debts and kagami rode to the rescue with a loan sic of 1 5m 16 kagami was meantime being sued for 84 000 by former director gill 17 2010 opened badly with the first of a series of winding up petitions from hmrc 18 in march there was the announcement that the club was to sell off the family silverware the only recently acquired home park 19 a new world was heralded nevertheless 20 involving a 46 000 2018 world cup stadium rather than repeat my thoughts on this see a posting i made at the time called are we going stark stadium bonkers the year s financial figures which featured a loss of 2 9m were described by gardner with the kind of understatement that football club chairmen specialise in as disappointing 21 the relegation to league 1 was a bitter pill to swallow given the already worrying state of finances gardner however insisted that the new stadium was the way forward a new stadium is an essential part of our forward planning and reflects the scale of ambition at the club 22 oh dear the a word ambition perhaps the r word reality might have been more appropriate the scale of ambition was certainly enormous last august the board announced plans for a 150m redevelopment of home park 23 the following day it emerged that the club had not paid their long serving announcer since late in the previous season 24 things have just progressed from bad to worse since then and i will assume that any reader who reached this point is already familiar with the failed 2018 bid the further winding up petitions from hmrc and the worrying appearance of peter ridsdale i will spare you a repetition of his experiences at leeds united and at cardiff city but see here if you want to read my previous postings on the spinmeister less well remembered are his days at barnsley he took over in october 2003 25 when he left fourteen months later new chairman gordon stewart explained ridsdale s departure the club was running into a financial position that was less than comfortable and it was clear cash had to be injected 26 for the spinmeister himself to declare the situation at plymouth as dire and i can t even find the words to put into context how bad it is it is probably worse than you can imagine this is a race against time 27 one can only assume the situation is considerably worse than dire with the exception of bringing in ridsdale as a saviour all i can offer as hope to the green army here is the thought that this might just be a case of fourth time lucky although i don t think it actually will be the situation at argyle is one that could have happened at too many clubs benefactors who couldn t or wouldn t stay the course overpaid players cashflow insufficient to pay all staff on time a high turnover of managers a serious case of stadium envy a casual attitude to paying hmrc absentee investors an absence of fan power it encapsulates most of what is wrong with english football and offers a very depressing start to 2011 share this share on facebook opens in new window facebook share on x opens in new window x share on reddit opens in new window reddit like loading posted in 2018 assets benefactors cashflow debts history hmrc insolvency investors ownership stadium tagged 2018 assets benefactors debts history hmrc insolvency investors ownership stadium 14 comments another fan rescue posted by john beech on december 24 2010 following on from my posting yesterday it is interesting to note that another fan rescue has taken place this week and one which may well have seen a club survive rather than fold thanks to the generosity of one or possibly more than one fan the matter had become public back in march when hartlepool united singular since 1968 when the two boroughs of hartlepool and west hartlepool amalgamated in case you re wondering raised a winding up petition against billingham town 1 who play in the northern league division 1 the connection between the two clubs is that hartlepool reserves play at billingham s bedford terrace ground as an outsider it s quite difficult to get a sense of right and wrong in the dispute and the two parties themselves do not agree on the facts hartlepool have been seeking a sum of 10 443 97 and billingham have been and continue to be seeking to distance themselves from the debt saying it had been incurred by the previous regime according to the billingham website hartlelepool had invested in the redevelopment of bedford terrace but in 2009 things turned sour with hartlepool and sic when they took away the goalposts prior to town s first game of the season town s committee hurriedly obtained some temporary posts and the game against bishop auckland took place 2 hartlepool responded to the story breaking with a detailed statement here one thing which seems indisputable is that the dispute between the clubs had been simmering for some time it has been in and out of court over most of the last year and in october billingham turned down the offer from an anonymous fan to pay off the debt 3 the situation is complicated by the fact that stockton council own the freehold to the ground matters came to a head this week the money has now been paid and according to billingham hartlepool united have apparently found a third party willing to make payment in full of all sums claimed under the winding up petition this was nothing to do with us and we do not even known the identity of that third party 4 the hartlepool version of events 5 refers to third parties who did not want to see billingham town fc wound up my take on all of this is not to take sides i don t know enough of the facts but rather to wonder how a customer or customers i e fan or fans should step in to save a business i e billingham it just doesn t happen in other business sectors it certainly doesn t surprise me that a fan or fans should feel that strongly about their club what strikes me though is how again the fan proves to be the crucial stakeholder in the survival of the business something which many a board should take note of too many boards show a depressing indifference towards fans an attitude which i find strange on business grounds alone a very merry christmas and a happy new year to all the blog s readers postings may be a tad patchy over the next week but normal service will be resumed very early in the new year share this share on facebook opens in new window facebook share on x opens in new window x share on reddit opens in new window reddit like loading posted in debts fans stadium tagged debts fans stadium 5 comments hmrc s christmas party posted by john beech on december 20 2010 i m guessing that there will be dancing in the corridors at hmrc s office party this christmas they ve had a good run in the courts over the last month against various football clubs so far this run has not included a single outcome of the club going into administration the last case was dundee in october see 1 this might suggest a shift in attitude by football clubs towards hmrc but i m not so optimistic the evidence varies considerably across the clubs involved hull city hull have been skating on thin financial ice for some time now as the crunch match against hmrc approached their bacon was saved by the expediency of new owners the allam brothers 2 the 1m tax bill they are reported to have paid off needs to be seen in the context of debts of 5m to barclays bank and a further 7m in outstanding transfer fees 3 a more recent report has the allams paying a further 20m on taking over the club officially last week 4 this is all good news for the club s fans in the short term with the immediate pressure off the club but there will have to be drastic changes in the club s business model if the haemorrhaging of money is to be stopped plymouth argyle as things stand currently the club has just started a 63 day reprieve from the winding up petition served by hmrc over a total of 700 000 in unpaid taxes 5 as with hull a major change in business model is essential probably achievable only through new ownership one piece of good news is that the spinmeister peter ridsdale is now longer involved in a possible takeover bid 6 and oh so many postings passim hopefully the suicidal idea of a world cup stadium will now finally die a death see previous posting are we going stark stadium bonkers the current board has appointed a financial adviser to help them 7 but fans might not feel greatly relieved as his background is at southampton the winding up petition from hmrc has been adjou...
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