David Treharne
Active member
Corrected for factuals. The notion that "he also wrote off a considerable amount of money to allow the Trust to start the Club again" is a juxtaposition of two erroneous statements. Firstly he did not "allow the Club to start again". A decision taken by the Directors he had appointed during 2003 to take over the running of the Club decided against the notion of becoming a 'Phoenix Club' since this would have entailed starting again in tier 7 (even if exisitng creditors had not liquidated the club). The R&L year had racked up losses of £643,538 for the Club, and Ivor had remained as an active Director. The Club was due to face winding up proceeding in September 2003, and just before this the three Directors, with legal advice decided to attempt to move to a CVA - which actually saved the Club - it never 'started again''. As for writing off a considerable amount of money, undoubtedly so, but did all the Directors who resigned after the visitation by the Football Compliance Unit during 2003, as well as those companies who eventually settled for 7.2p in the £ for theri debts. It's also worth remembering that in the season 2002-2003 the club had spent a record £1,570,132 on playing staff (which included three managers) for which all Directors were collectively responsible. Compare and contrast with what you'll probably hear at the meeting tonight about finances.
