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Threat of Administration for Notts County Football Club

25 February 2019

Threat of Administration for Notts County Football Club

The worlds oldest football league club, Notts County, risk going into administration, according to an exclusive Sky Sports News report.

The club are five points from safety of the league, with a financial crisis giving their future many red cards.

Chairman, Alan Hardy brought the club in January 2017, and put it up for sale just last month.

To purchase the club, it has been revealed that Hardy used a loan from his interior design company, Paragon. The recent accounts posted on Companies House in June 2017, refer to a ‘related party debt’, of £7m, for Paragon Interiors Group – the value of the funds used to buy the club.

Paragons business situation stresses administration, with the company already stopping work on numerous projects, advising customers they will hope to catch up in March. If the business call in administrators, the debt from Notts County is likely to be demanded, leaving huge doubt for the football clubs finances and future.

Supporters to the club have watched them loose their league two play-off semi final to Coventry in May…thinking that was bad, they now watch them face relegation for the first time of the 157-years of existence.

Will the final whistle be blown? Is this the end?

Category: Administration

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