Thursday, September 23, 2004

 
Strange goings on in North Wales, home of our illustrious former leader, Dennis NEM Smithout. I first noticed this story on Clubs in Crisis a couple of days ago and have done a bit of digging in places such as the North Wales Daily Post to find out more. Apparently, two and a half years ago the Chairman of Wrexham, Alex Hamilton, bought the freehold to the Racecourse Ground from the brewery which owned it, and promptly transferred it to another of his companies. Then, last year, he changed the terms of the lease to the detriment of the football club and on 21st July gave the club 12 months notice to quit. Rumours of a sale to property developers abound and the ex-Chairman, Mark Gutterman, has served a court order on Hamilton preventing sale of the ground as Gutterman still has loans to the club, believed to be secured on the ground. In the meantime, Hamilton has called an extraordinary general meeting for 29th September, the only agenda item being the expulsion of the clubs 3 other directors, including John Reames who attempted to blow the whistle in the club programme. Also, Hamilton is in negotiations to defer payment of the £850,000 the club owes to the Inland Revenue. The club also owes £60,000 in unpaid VAT and has short-term debts of £2.75m. Further to this, the club's solicitors have resigned following "abusive" messages from the clubs fans. Mysteriously, the say that "client confidentiality" prevents them from saying all that they would wish. All-in-all, it’s not a pretty picture. Wonder how long the notice period on the KasStad is?!

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