Revealed: The 139 Gretna FC creditors owed £4m
Last updated 05:36, Friday, 19 September 2008
GRETNA Football Club could be forced into liquidation with debts of nearly £4m.
Administrators now controlling the stricken club have called a meeting for May 8 with 139 individuals and businesses owed money following the collapse of financial affairs at Raydale Park after owner Brooks Mileson ended his backing following an illness.
The creditors’ claims include £1.871m loaned by Mileson and one of his companies, Heartshape.
In a statement of the club’s affairs obtained by The Cumberland News, the Sheffield-based administrators, Wilson Field Limited, have estimated the club’s debt at £3,734,811.53.
Former manager Rowan Alexander is claiming £800,000, HM Customs and Excise are demanding £136,292 and the Inland Revenue is owed £439,762.
Carlisle City Council is owed more than £2,000 and the University of Cumbria is claiming £74,000. The club’s now defunct youth academy was based at the university’s facility at Newton Rigg, Penrith. Also on the list are former players James Grady and Martin Canning, who are claiming £20,000 and £9,000.
The outlook remains bleak for Gretna, who were placed into administration in March.
The club’s fate could now be in the hands of creditors, who have the chance to meet with joint administrators David Elliott and Lisa Hogg at the Smiths Hotel in Gretna Green on May 8.
Gretna, who have been relegated from the Scottish Premier League after a turbulent season, could be saved if a new buyer can be found and is willing to take on their liabilities.
Glasgow-based football consultant and agent Paul Davies is among three potential buyers, but they are yet to make a move.
Gretna’s only tangible assets are the land and property at Raydale Park which are valued at £824,000..
The administrators’ billis already more than £250,000 – at a rate of over £200 an hour.
