VSI
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

Levy
FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Mansfield Town Clear 1.2m Of Debt

Fri 22nd Jan 2016 | Money & Finance

Mansfield Town has announced that a debt of £1.2m has been written off the club’s books.

Documents have been signed to turn a total sum of £1.2m, which derived as loans from Chairman, John Radford and Directors Steve Hymas and Steve Middleton, into preference shares. 

The paperwork was signed after the club's Annual General Meeting, which took place at One Call Stadium yesterday afternoon. (21st Jan)

Company Secretary, Laura Bathgate was present on behalf of Steve Middleton. 

Speaking to www.mansfieldtown.net, Mr Radford said: “We want to improve the balance sheets of the football club. It’s not good for anyone or any business to have debts and these loans will now come off the club’s books.

“Myself, Steve Middleton and Steve Hymas have never had, nor will have, any intention of taking money out of the club and by turning these loans into preference shares it makes the club’s finances much healthier.”

Posted by: Aaron Gourley

RETURN TO LATEST NEWS SECTION

SUBSCRIBE TO THE FCBUSINESS RSS FEED

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk  

To subscribe to our range of football newsletters including news, products and jobs CLICK HERE.

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

In Focus: Relegation. Can It Reduce Your Business Rates?

Mon 27th Mar 2017 | Money & Finance

It is that time of year again….the happy financial prospect of promotion for a few or the nightmarish vision of relegation for other clubs. So how does league status affect a club’s...

Chancellor Misses Rate-Relief Open Goal In Budget

Thu 9th Mar 2017 | Money & Finance

Rate relief for football in the community: An open goal for Government in 2017 Football clubs, large and small, will not benefit from any substantive ‘give-aways’ following the Chancellors...

Leicester City make pre-tax profit of 16.4m after winning Premier League

Thu 2nd Mar 2017 | Money & Finance

Leicester City today announced its financial results for the year ending 31 May, 2016 – a period of continued growth and unprecedented success for the Football Club. An historic, captivating...

Liverpool FC announces financial results for year to May 2016

Wed 1st Mar 2017 | Money & Finance

Liverpool FC has filed its annual accounts for the year to May 31, 2016 reporting that revenues are continuing to grow, creating further financial stability for the club. Overall revenue increased to...