Leaders
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

Notts County Ladies Folds Following Huge Debts

Fri 21st Apr 2017 | Football Club Administration

Notts County Ladies Football Club have folded after Alan Hardy admitted defeat in his bid to save the club which faced a near-£1million bill to stay afloat this season.

The Notts County chairman and owner had hoped to restructure six-figure HMRC debts inherited from Ray Trew and fund ongoing projected losses this season of half a million pounds.

Despite interest from two Premier League sides to take over the business as a going concern and to protect the players and staff, the FA would not sanction the transfer of the licence to safeguard the future of the club under a new ownership structure.

And, despite weeks of negotiations with lawyers, HMRC and the FA, Hardy has now called time on his plans to save the Ladies set-up.

With the due to face Arsenal in the WSL Spring Series which kicks off this weekend the club has today been officially withdrawn and will play no matches.

Speaking of his decision Alan Hardy said today: “I am devastated that we cannot continue the Ladies project but the numbers simply do not stack up. Continuing would have been little short of financial suicide.

"I wish to be totally transparent with supporters about the sums of money involved here. When I took over the club, HMRC and other creditors had in excess of £350,000 of unpaid liabilities.

"Additionally, I was extremely concerned that to operate Notts County Ladies for the current season was going to cost us approximately £500,000 - a figure principally made up of player and coaching salaries. Our total projected incoming revenue from attendances and sponsorship was £28,000.

"I have been tremendously impressed by the passion and enthusiasm shown by everyone connected with the Ladies set-up - manager, players and backroom team.

“They have represented Notts County with dignity, success and the utmost professionalism over the past three seasons. But the fact remains we simply cannot fund such a huge operating loss.

"I was also concerned that we had no real pathway for young players in Nottingham to graduate through the ranks into a WSL team.

"The existing structure is such that we have a strong elite-level team, but no academy pathway of progression through age-group teams.

“I met many times with the FA with a view to being granted RTC (Regional Talent Centre) status but realistically it would have taken more than two years to become accredited.

"It's a very sad day for me personally and supporters should rest assured I have left no stone unturned in my quest to save the club.

“However, having taken all factors into consideration, the only possible outcome is to discontinue our Ladies club.

“I would like to place on record my sincere thanks to the staff and players and we all wish them every success in finding new clubs.”

The club will be making no further comment at this time.

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

Bolton Wanderers Sell Training Ground To Wigan

Fri 19th Feb 2016 | Football Club Administration

Bolton Wanderers have today confirmed the sale of its Euxton training ground to ‘another North West football club’. The Championship club have debts totalling £172.9m and are...

Northampton Town Application For Administration Withdrawn

Fri 11th Dec 2015 | Football Club Administration

Northampton Town Football Club has confirmed that the application for administration has been officially withdrawn. Legal agreements had been reached this week between the club and Northampton Borough...

HMRC Hands Bolton Wanderers Winding Up Petition

Thu 10th Dec 2015 | Football Club Administration

Bolton Wanderers have been handed a winding up petition by HMRC it’s been confirmed. The club, who are currently bottom of the SkyBet Championship, have debts of over £170m and have failed...

HMRC Withdraw Cobblers Winding Up Petition

Mon 30th Nov 2015 | Football Club Administration

The winding up petition against Northampton Town FC has been withdraw it’s been confirmed. The SkyBet League 2 side has confirmed that the HMRC winding up petition has been officially withdrawn...