Darlington....

[Trek]

......enter administration.

http://www.darlington-fc.net/page/NewsD ... 84,00.html

How many more in the BSP will join them before the season finishes?

[Biggles]

You get the impression this season that all 4 relegation places will not be decided on the field of play but in the Boardrooms and AGM.

[Formic]

Although its not the best news for Darlo, at least they have four months to try to sort things out before the Conference AGM, and a prospective buyer may now find them more attractive. If only that had happened at R&DFC in October 2006 things would have been very different at Nene Park.

[Trek]

I agree. There was zero communication from the Trust with the rank and file membership appertaining to our financial situation back in the Autumn 2006. I even recall tackling a prominent member of the Trust Board prior to KC taking over the Club complaining about the lack of communication. Water under the bridge now but a lesson learnt that I know will be heeded by everyone connected with AFC.
Onwards and upwards. ;)

[Formic]

I agree. There was zero communication from the Trust with the rank and file membership appertaining to our financial situation back in the Autumn 2006. I even recall tackling a prominent member of the Trust Board prior to KC taking over the Club complaining about the lack of communication. Water under the bridge now but a lesson learnt that I know will be heeded by everyone connected with AFC.
Onwards and upwards. ;)

Agreed - although it was made worse by "misinformation" that was minuted in their Trust Meeting in late July of that year -
"Update of current season Profit and Loss. This showed that the Club continues to make good financial progress, with around £1m improvement in the run rate trading position during the current year.
Forecast for 2006/07 season. This showed that it is possible for the Club to achieve break even over the year.
Cash Flow Projections for 2006/07. This showed that Club should be able to maintain positive cash balances over the year."

[Trek]

I think the financial situation, after the dowry was used up, unravelled very quickly after that meeting coupled with poor performances on the green stuff. :twisted:

[Formic]

Indeed - Paul Hart has a lot to answer for - although I think his budget was cut just after he signed up his third goalkeeper.

[Bob's Bitch]

According to the Administrator's Report he's still owed £9k. What a shame...

[Pigman]

Singh confirmed in his statement that there had been interest in the club prior to his decision to place it in administration. "I was approached by one consortium this week, represented by two local businessmen, whom I admire for their intentions," he added. "In theory their approach is a very sensible one, but they made their short-term position very clear and it doesn't solve the current issues."They now have an opportunity to discuss their proposals with the administrators and I wish them every success in taking the club forward."

Sounds to me as though the poor old creditors are going to get shafted, as always happens in these situations !! Maybe a solution is there, but these "investors" want a deal cut with the Administrators, something that the current owner couldn't broker??? I'd wager they'll cover their creditors costs, but with a deal of 10p in the £ or something of that ilk !!

[STAGMAN]

From what i read on one of the Darlington posts, these investors wanted Mr Singh to keep financing the club until June to the sum of approx £80,000 a month and would then take over. So i can understand why he has put it into admin