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Revenue after Wrexham
The Inland Revenue are chasing Wrexham Football Club for nearly a million pounds. Chairman Alex Hamilton says the club has ten days to convince the revenue it can pay the bill.
According to BBC Wales, Hamilton has revealed a £840,000 bill to the Inland Revenue, and a further £120,000 owed to Customs and Excise. He says the club's debts total £5m, and claims a insolvency expert has told him the club should be placed in administration to stave off creditors.
A summary of the club's problem has been printed on ic NorthWales:
* The club still owes the Inland Revenue and Customs & Excise close to £1m.* The club made a loss of £262,000 in the financial year to May 2004.* Budgeted proposals for either commercial or residential redevelopment of part of the Racecourse site will not realise enough money to clear the club's debts.* In June this year the club's bankers refused to extend Wrexham's over-draft facility.David Acland, a partner in insolvency firm Begbies Traynor, who is an advisor to the Professional Footballers' Association and has acted as joint adminstrator in the past at Chester City, Lincoln City and Huddersfield Town, was called in last month to assess Wrexham's financial position.
It looks as though Wrexham will go into administration with all the problems for the club that will bring. The number of both staff and players are likely to be cut.
It is quite possible that some players could go out on loan. Matt Baker could be one of them as Andy Dibble is still their first team keeper.
Meanwhile near-neighbours Chester City has changed the name of their ground from the Deva Stadium to the Saunders Honda Stadium.
The club has announced a six-figure deal with the Chester car sales company which will run for two years with an option of a third year.