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offline Slartibartfast

  • National Squad - 2nd XI
  • Posts: 4,264
  • Joined: 18 May 2002
Telford in receivership

offline old git

old git
  • Reserves
  • Posts: 154
  • Joined: 21 Sep 2003
if its true and the gates are looked will they be able to full fill there remaining fixtures
it just goes to show that you have to learn to walk before you can run
at least our directors are taking the right approach making sure the finances are in place to make sure this does not happen to us

2-nil to the lads on saturday

offline Alan W (GNFC)

Alan W (GNFC)
  • National Squad - 2nd XI
  • Posts: 3,873
  • Joined: 23 Dec 2001
Confguide report says as follows:-


offline Alan W (GNFC)

Alan W (GNFC)
  • National Squad - 2nd XI
  • Posts: 3,873
  • Joined: 23 Dec 2001
Darlington are in real trouble as well:-

Quakers on brink as talks end in deadlock
by Stuart Mackintosh

THE future of Darlington Football Club was looking increasingly desperate last night after hours of negotiations to agree a rescue deal ended in stalemate.

Administrators Wilson Field admitted that the frustrating impasse meant the Quakers could be on the verge of closure after 121 years.

A day of talks involving former chairman George Reynolds and would-be owner the Sterling Consortium ended last night with no agreement being reached.

It led supporters to call on all parties to thrash out a settlement to save the club.

Sterling, the finance group that holds a mortgage on the Reynolds Arena, exchanged contracts for the sale of the business and assets of the club last Friday.

But the sale is subject to creditors' approval - and Mr Reynolds has insisted that he will reject a Sterling-backed company voluntary arrangement (CVA).

The Football League is also standing firmly behind its policy that all creditors must be satisfied with any deal to bring a club out of administration.

Joint administrator David Field said last night: "Everybody has their position, and if nobody moves from those positions, there is nothing else we can do.

"Liquidation is looking likely. There are still opportunities to resolve it, but we're trading at a loss and we can't carry on.

"If we get to the stage where we can't justify carrying on, then we will close it."

The Sterling deal would have offered creditors a small fraction of what they are owed and, if accepted, would have ensured the club's short-term survival.

But Mr Reynolds says the business has been undervalued. He said he would rather see the club fold than accept the terms of Sterling's proposal.

Mr Field said: "We have held further discussions with the purchaser and Mr Reynolds, and we will continue to have discussions."

The Football League has confirmed that it will not alter its insolvency policy for clubs in administration for Darlington's sake - to the fury of fans.

Peter Ashmore, secretary of Darlington Supporters' Trust, called for stronger support for one of the country's oldest clubs.

"It is time the League got off the fence and helped out lower league clubs," he said.

"Darlington's situation is a special case and requires the League to step in and ensure the club, with 121 years of history behind it, isn't allowed to fold.

"We would urge all parties involved in the on-going talks to thrash out a compromise deal to secure the club's future."

The Sterling bid is the only credible offer on the table. Sterling - made up of financiers Melvyn Laughton, Sean Verity and Stewart Davies - loaned £4m to Mr Reynolds to finish work on the stadium.

That loan was supported by a personal guarantee from the former chairman.

Sterling has since issued a bankruptcy petition against Mr Reynolds in respect of that guarantee.

The group was forced to launch a take-over bid to protect its substantial investment after no others emerged.

It is understood to be keen to work alongside a consortium of local businessmen in running the club, should the take-over go ahead.

offline Wobbly Wayne rides again

Wobbly Wayne rides again
  • Reserves Coach
  • Posts: 1,696
  • Joined: 21 May 2002
A warning to all, sugar daddies are not the answer to long term success.

offline Vera

  • First XI - Sub's Bench
  • Posts: 169
  • Joined: 19 May 2003
We are so right to proceed with caution and create a solid foundation on which to build. Having been around when the club so nearly went to the wall through being over ambitious I would never wish to see the club and its supporters in that situation again. It is easier to get into a hole than it is to get back out of it.

offline David Holden

David Holden
  • Youth Team Coach
  • Posts: 8,757
  • Joined: 5 Sep 2001
  • Location: Gravesend
  • Supports: Gravesend & Northfleet
  • Foes: Dartford
The Directors of Telford have been told that they must put up a personal guarantee for £64K by 3pm tomorrow or they will not be allowed to forfill their Conference Fixtures.

If this means that they are also out of the Trophy, the Canvey get a bye to the final.

Margate took 4 points off Telford in their two matches.

offline James

  • First XI - Sub's Bench
  • Posts: 283
  • Joined: 5 Aug 2003
Yet another lesson for all those fans that want a big money man to come in and solve all of our problems. It just looks as though it creates more problems in the long run let us hope Brian is with us in the long run and while we may not all agree with his and Andys decisions at least they have the clubs long term interests at heart it will be interesting to see what happens at Rushden when Max Griggs leaves as he hopes in the near future and even more amusingly at Chelsea when Roman loses interest.

offline Alan ( GNFC )

Alan ( GNFC )
  • First XI - Weekly Contract
  • Posts: 815
  • Joined: 17 May 2002
Very wise for the club to go full time the season after next . I reckon by then a few more of the full time clubs around us ,attempting to buck the economics of level 5, will have gone bust/back to part time , and then we wont need to put our own necks on the line .

offline Slartibartfast

  • National Squad - 2nd XI
  • Posts: 4,264
  • Joined: 18 May 2002
It cerainly seems sensible to not rush into anything we can't afford, according to the latest predictions see here
we can manage quite well as we are.

offline Alan W (GNFC)

Alan W (GNFC)
  • National Squad - 2nd XI
  • Posts: 3,873
  • Joined: 23 Dec 2001
It seems Telfords players have agred a 50% wage deferral and the FA have agreed to allow them to continue playing until the end of the season.

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