View Single Post
Old 18-02-2010, 11:38   #3
lancsdave
God Member
 
lancsdave's Avatar
 

Re: Notts County draw with Grimsby

It goes to show that even the odds on wins for those with games in hand are not safe.

Anyway it looks as if they will be a few points behind Stanley soon.

Notts County's new owner may put the club into administration in the next 48 hours after unearthing financial chaos at Meadow Lane.

Former Lincoln chairman Ray Trew bought the League Two Magpies for a nominal £1 last week as Sven Goran Eriksson left.

Trew stepped in to save the club going bust over a winding up order for an unpaid £300,000 tax bill.

But Trew’s financial experts have been so appalled by the state of the books, administration may now be the only option.


The club’s debts stand at £4million but are rapidly rising as Trew’s audit discovers the extent of Munto Finance’s disastrous short-lived reign.

A criminal investigation is likely to begin soon.

And Magpies’ new executive chairman Jim Rodwell said: “It’s not what we know that worries us, it’s what we don’t know.

“The accounts are in such a state it’s difficult for anybody to be able to put a finger on the level of debt.

“Our accountants are going through the process at the moment.”
__________________
www.giftprint.co.uk - T-shirt printing & more
lancsdave is offline   Reply With Quote