Rage Online Blog
Wednesday, November 17, 2004
Although things still look bleak for Wrexham, they have a stay of execution for, perhaps, a couple of weeks as yesterday the board petitioned the High Court to grant an administration order. Red Passion reports that this petition should be heard in the next two weeks and, should it be granted, it will result in Wrexham becoming the first Football League club to receive a 10-point penalty for such a move. More immediately though, it prevents the Inland Revenue from getting the winding-up order it was seeking over an alleged unpaid tax bill of £800,000, which was expected to be granted today.
Administration may be avoided should a suitable takeover package be accepted by Wrexham's ex-chairman and still majority shareholder, Alex Hamilton. However, the perceived wisdom is that Hamilton does not want to do a deal, unless it involves him being able to sell the Racecourse Ground for development, thereby making him pots of cash. As it stands, administration looks the most likely outcome, and the only way that the supporters of Wrexham will be able to ensure their clubs survival.
Administration may be avoided should a suitable takeover package be accepted by Wrexham's ex-chairman and still majority shareholder, Alex Hamilton. However, the perceived wisdom is that Hamilton does not want to do a deal, unless it involves him being able to sell the Racecourse Ground for development, thereby making him pots of cash. As it stands, administration looks the most likely outcome, and the only way that the supporters of Wrexham will be able to ensure their clubs survival.
Labels: Wrexham
# posted by Martin B @ 17.11.04 
