We will go into administration

[Bob's Bitch]

I also do not believe that KC would let this club die but - and its a big but - we must not forget which two people own the land! They could easily wait 18 months and then build houses?

What I don't understand is if KC owns the land what was the reason for the Beasants taking over the club? No assets and an ailing fan base! Something doesn't make sense here?

I actually said goodbye to Justin on Saturday - not because of any knowledge on my part or anything JE said - but I just cannot see him or the entire squad being here next season. Can you?

He doesn't trust the owners so why work with them?

Thanks Chris. I agree that Justin will be gone with the squad in the summer, he signed a new contract in good faith and the owners have screwed him over. I guess we'll never know about why KC handed over control, a conspiracy theorist would say he was trying to kill the Club after we didn't win the play-offs. He hiked up the prices to lower the fanbase and make it even harder for the new owners (I don't believe that by the way).

One thing I was wondering about though, is the building houses idea. Isn't Nene Park near floodplains which would make building houses difficult? I'm sure I saw it mentioned on one of the previous forums.

[Pressman]

Olly I totally agree with your comments! One interesting point that we must not forget is that I am sure KC said at one fans forum that he was subsidising the club to the tune of £600k per year!! I agree that unless a knight in shining armour comes along in the next few weeks we face the real prospect of dropping out of the conference altogether!

I think if that was to happen then it would be the death of us.

As I've said many times before maybe the one alternative - albeit unpalatable to many - is to merge with K*ttering for economic reasons. Let's face it they seem to be facing similar problems to us as well!

Maybe even a 3 way merger with the cobblers to make a county team based at a proper stadium NP?

[Dazzler]

Although the great efforts from some of the fans to publish a makeshift programme, the conference board were not impressed and that stated that it lacked required information and will be still get smached with a fine.

So what required information was missing?
Do the conference board have a document online outlining the required components of a programme?

[Pressman]

Dazzler I would be very interested in learning that very same point?

Thank you for what you did with the programme on sat.

[Three of Diamonds]

A couple of points here to add. Having seen the accounts posted at companies house (publicly available for £1), there is no mention of KC spending £600k a season, perhaps when he first took over the club (having spent £512k for it) he might have but in the last filed accounts that certainly isn't the case.
Another point regarding the Sports & Exhibition Centre, It is owned by a landlord, who's responsible for its upkeep, the club has a lease on it to use it. Buildings maintenance would not be a part of a lease.
When KC left it was well publicised that it was a debt-free situation, so where does the £750K figure come from considering it was a debt-free handover and we're only 6 months down the line with a player budget of around £50k a month ( £460k a season as mentioned on the ET website a few months back) - I'm assuming contracts are only paid during the playing season , and that until last month people had been paid so there was no further debt until then. So if people had been paid then the debt must be a service one, that's £125K a month - that's a hell of a lot of money over the playing budget? The only other debt I can think of would be loans to the club but for what?
Something doesn't add up here, at this point I'm likely to believe the source isn't quite accurate enough.

[Trek]

One thing I was wondering about though, is the building houses idea. Isn't Nene Park near floodplains which would make building houses difficult?

You are correct. There is zero chance that East Northants Council would permit houses built to the east of the A6 in the Nene Park location for a variety of reasons. The only type of development that may be permitted would be further commercial buildings but with the covenant on the stadium it unlikely that they would allow it to be demolished.
The 22 acre complex, excluding the Sports Centre, is owned by Conalgen Enterprises S.A. (Incorporated in Panama) which I suspect is a vehicle set up by KC (and he who should not be named....).

[wewantourdarbyback]

Oh god, the last debate about football ownerships by shady companies set up in tax havens that I followed has instigated a parliamentary review and a minor crisis at the FA...

[Trek]

Oh god, the last debate about football ownerships by shady companies set up in tax havens that I followed has instigated a parliamentary review and a minor crisis at the FA...

The saving grace is that Kenneth Bates is not involved in Nene Park. ;)

[diamond mad]

Whoever the source is appears to be pretty accurate with his information

I would question whether Keith will bail out the Club when the debts are that high even though he does not want the Club to go into Administration.

Remember that figure of 750k will include unpaid PAYE, utilities, some staff not paid for March,possibly even my loan. It doesn't take long to get to that number if you are not paying your suppliers.

As to the programme Conference rules state it must include certain adverts, opposition info, officials etc.

[rushdenman]

The only thing that surprises me in RushdenJim's original post is the amount of debt quoted. If the club was handed over debt free, £750k. over 6 months does seem a lot.
Having said that there are likely to be very sizeable creditors such as HMRC for both PAYE/NI and VAT, Gill's loans (which she has quantified on here), Utility bills, rent due to KC, Printers costs, Coach costs (Yorks/Country Lion), etc.
The only way £750k. could have been built up over that period is if most of the revenue generated in that period has been syphoned off somehow

The figure of £600k. p.a. stacks up very well with the sponsorship figure from DRC Locums up the road, so it would seem quite likely to be the sort of amount KC was funding the club each year.

To carry on at our level without that £600k would require an average attendance figure of 3,000 +, so unless a white knight does appear I think the best we can hope for is a part time squad in a much lower League, although that still leaves us with the problem of funding Nene Park from much diminished income.

I think the most likely outcome is one of the following:-

a), the club goes into liquidation (possibly via administration initially) over the next few weeks and ceases to exist, or

b). We go into administration and are demoted to the Zamoretto League (a la Salisbury), and struggle on for a couple of years with some backing from KC?


Unless someone knows an altruistic billionaire with a desire to see a thriving football club in East Northants of course ;)