Saturday, 5 March 2011

Plymouth Argyle

Plymouth Argyle had a couple of results the weekend. Today they beat Sheffield 4 - 2 away and yesterday the club went into Administration. The win away was a good result, their second win in two games and the sure need the points. Going into administration is against Football League rules and they have had 10 points deducted and they could end up going down into division 2 which would put them in an even deeper financial black hole. They owe various people £13 million, a lot of that is to the Tax Man who hasn't been paid. The players and the back room staff haven't been paid recently either but they care about the club, all the tax man cares about is getting his money.

This saga has been going on for a long time with 3 groups of directors all trying to go separate ways to save the club but without any apparent success. The effect of this stalemate appeared to be the club going under and everyone loosing out, except the tax man who gets his slice before everyone else can have their cut of what, if anything, is left. Now the club is in Administration the directors no longer have any say in the running of the club so hopefully some headway might be made to find a buyer.

The problem with this solution which might save the club is that the debt is £13 million but lots of local business are owed money and they are unlikely to get more than a few pence in the pound so a lot of people are going to loose out. I used to work for a company that when into administration 8 months ago. It was closed down a week later and I am still waiting for any sign of money the company owe me.

Still good luck to Plymouth Argyle. Oh yes, Torquay United also won to day two nil.

And finally I had a walk round town today looking for anyone giving away books but never came across a free book. Anyone out there get a free book?


DS said...

No free books here in Gt. Yarmouth either!
The stocks must have been needed for all of the TV programs promoting this event.

Dave said...

Seems to be a lot of organisations going broke recently. Pays to put your money in your sock or your mattress! - Dave