Exeter City FC Press Release
The Football Conference and Exeter City Football Club have agreed that it is in the interests of all football that the requirements of the football authorities in respect of payment by member clubs of their football creditors should be strongly and successfully defended from challenge. The Conference therefore agrees that the application made by the Inland Revenue to revoke the voluntary arrangement approved by Exeter's creditors on 16 October 2003, should be resisted as necessary to defend those requirements. Based on this mutual understanding, the Conference and Exeter have reached a compromise which will enable Exeter to concentrate on defending the Revenue's application.
At the same time, in recognition that Conference member clubs have always wished for sporting sanctions to be introduced to the Conference in line with the rest of football, and given that the rest of football has agreed to delay implementation of such sporting sanctions until season 2004/05, the Conference has agreed not to implement its decision to deduct playing points from Exeter in connection with Exeter's voluntary arrangement.
The upside being that accy and other clubs dont have to chip in the 20k to fight the court case
:rolleyes8
