What I have heard about the possibility of administration

In the weeks running up to when the accounts SHOULD have been published, we were quite literally hanging on by a thread. There was a suggestion that one of the larger debits was not being repaid regularly enough, which had annoyed McNally as when he joined he was aware of the repayment due and was told in no uncertain terms that Delia would pay the ?1m (ish). Come the time, for what ever reason, she did not and with the accounts due to be published, we were 95% set to have to go into voluntary administration.

A slight change in fortunes and the arrival of money to pay the bill, plus some renegotiations meant that we would stay a float for now, the accounts were released late as a result of this.

I'm not one normally for spouting hearsay on here, this came from one of my contacts involved with the club - who does not work for NCFC. I was told at the time (a good few months back) that this was not allowed to be released, I'm only saying it now as it has relevance to the NOTW article - maybe they heard this news too and decided that it would sell a few papers today.

I'm lead to believe that at this moment in time, all is on hand but that forecasts for next season to keep things this way massively depend on promotion and the increases in revenue streams such as TV, sponsorships etc that comes with it

Posted By: conker on January 24th 2010 at 11:47:35

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