Talk to us today in confidence0800 970053907833 240747

Threat of Administration for Notts County Football Club

25 February 2019

Be the first to comment

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?

Categories: Administration


Post a Comment

Please keep your comments relevant. Company Rescue reserves the right to edit or delete comments.

The blog postings on this site solely reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of Company Rescue. All comments are made in good faith, and Company Rescue will not accept liability for them. We may contact you in response to your comment – by submitting your comment, you are consenting to this.

To find out more about how we collect, use and protect your data, please read our privacy policy.

You are currently offline. Some pages or content may fail to load.