Fri, 03 May 2013 | ADMINISTRATION
Aldershot Town FC, which could not pay its players their wages for April, has entered administration.
Quantuma Restructuring was appointed as the administrator of the club yesterday (2 May 2013) and is presently working through the troubled club’s affairs.
Based in Hampshire, Aldershot Town was created in 1992 after the previous Aldershot FC, set up in 1926, exited from the league and was wound up in the High Court.
Before entering administration the loss-making club's supporters had called a meeting with the board of directors to talk about its finances. The club’s chairman Shahid Azeem had been in discussions with former chairman, owner and majority shareholder Kris Machala over buying his stake in the club. The deal failed, however, when Mr Machala demanded proof of finances.
Aldershot Town’s chief executive Andrew Mills resigned from his post on Wednesday after the club was not able to pay the players, saying that he had been put in an “untenable position”.
Michael McGinty - the son of John McGinty, the club’s former chairman who died in the summer of 2009 - commented on the administration: “It is clearly a business decision which is based on the needs for the club to do the right thing by the law and for the club’s survival.”
“I would hate to see the end of the club and I don’t think that will be happening,” he added.
Meanwhile buyers interested in Hearts of Midlothian FC may find that this is the right time to make their move, football finance expert Neil Patey says. Its majority shareholder Ukio Bankas is due in court this week to find out if bankruptcy proceedings are to be carried out against it.
Mr Patey told Scotsman.com: “It’s certainly time to get your funding and proposals together and then try to get the attention of the administrator. He may have bigger things on his mind, but, if someone knocks on his door offering sensible value for an asset pledged to him, why wouldn’t you at least entertain the discussion?”
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