Rotherham United may have to "close immediately", according to the club's administrators, who have blamed Millmoor landlords the Booth family for pushing the Millers to the edge of extinction.
Administrator Jeremy Bleazard said that demands made by former club owner Ken Booth over continuing 'privileges' were frightening off bidders – with a Russian billionnaire understood to be among those to have withdrawn to have withdrawn an offer.
If the Booths' demands are not met, said Bleazard, the family would seek an injunction preventing the sale of the club – which could have catastrophic results.
In a statement, Bleazard of XL Business Solutions said: "I have been in negotiations with the five bidders for the club and believed we were very close to striking a deal and announcing the preferred bidder.
"However, at lunchtime (yesterday) I received a fax from the landlord's solicitors demanding a personal undertaking that any sale of the club would include the benefits afforded to Mr Booth.
"These benefits include free tickets, hospitality, advertising and even use of a physio at no costs and would remain in place whether the club stayed at Millmoor or moved to a new ground."
"The fax went on to say that failure to give such an undertaking by 4pm (yesterday) could result in an application to court (today) requesting an order restraining the sale of the club.
"I am unwilling to give an undertaking to this effect.
"If the application were to be made I have no funds to defend the action and may have to close the club immediately.
"Of the five bidders, two have gone cold as a result of information they have unearthed relating to the leases and benefits packages.
"Of the remaining three bids, I was confident I had found the preferred bidder."
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Showing posts with label Rotherham teetering on the brink of liquidation. Show all posts
Showing posts with label Rotherham teetering on the brink of liquidation. Show all posts
Monday, 28 April 2008
Posted by Debtsgone LTD at Monday, April 28, 2008 0 comments
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