Jump to content

Wednesday 29th May 2024

Scottish League Cup Group Stage Draw - 1pm

🔴⚪️ Come on you Reds! ⚪🔴

Dunfermline in financial trouble


mizer

Recommended Posts

http://sport.stv.tv/football/scottish-premier/dunfermline/299430-dunfermline-fail-to-pay-full-february-wages/

 

Dunfermline fail to pay February wages in full

 

Dunfermline Athletic have vowed to bring the wages of their players up to date by Monday, after failing to pay their February salaries in full.

 

The Fife club are short of £80,000 which was due to be paid to them by Rangers following a match on February 11, only for their SPL counterparts to go into administration three days later.

 

Pars chairman John Yorkston confirmed on Wednesday that wages were yet to be honoured in their entirety, but promised to pay everyone up to date by the start of next week.

 

"The Rangers situation has had a knock-on effect," Yorkston told the BBC. "I can confirm full wages were not paid.

 

"We have made other arrangements to get monies in and it should be all squared up on Monday."

 

News of the club’s failure to pay wages in full came on the same day as the release of their annual accounts.

 

Dunfermline’s books showed an annual loss of £430,000, of which £185,000 was bonus payments paid to players following their success in winning the First Division title last term.

 

The club’s chief executive Bill Hodgins added: “By Monday all staff will have received 80 per cent of their salary and we will be in a position to pay the remaining balance within ten days.

 

“Our staff are aware that this situation is out with the Clubs control and they have been extremely understanding and supportive. In the meantime the Scottish Premier League are in constant dialogue with the Administrator at Rangers in order to try and secure payment of our ticket income of £84,000 that was due on 21st February 2012."

Link to comment
Share on other sites

  • 1 year later...
    Dunfermline have applied to be placed in administration.

    A group of fans have agreed underwrite the administrators' fees, should the application be successful.

    HMRC had served a petition for liquidation at the Court of Session over a tax bill of £134,000, with a deadline of 17:00 GMT on Tuesday.

    "The directors of Dunfermline FC have today decided that their only option is to place the club into administration," said a club statement.

 

    "The administration appointment is expected to take effect within the next couple of days and the directors have approached Bryan Jackson, of accountants PKF, to consider being appointed administrator.

    "The directors have taken this decision with considerable regret but believe that they have no other choice in the current circumstances.

    "Until the administration is effective all staff will remain in post and the club will continue to operate normally," added the statement.

    The club's honorary director, Jim Leishman, revealed that a group of supporters had agreed to cover the costs of the administrators, allowing the process to go ahead.

    "They're people that care about Dunfermline and I'm really proud of them," he said.

    "He's [the administrator] accepted that and he's away speaking to different people that he needs to speak to. I would think that one of them would be HMRC."

    Leishman insisted that administration was the only way to give the Pars a chance for long-term survival.

    "It was either liquidation, where you're done and dusted and you've nothing [or] what we've done. We're giving it a chance.

    "It's good news; I wouldn't say we're saved - there's a lot of hard work to be done.

    "We've underwritten the administrator and hopefully now he can do his job and we can look for the long-term sustainability of Dunfermline."

    He also asserted that the group of fans were not the steering group, which had tried to find a way of stabilising the First Division club's finances.

    "It's not the steering group," said Leishman. "They've done fantastic for three weeks. They did a great job.

    "This is some of the steering group and some other people that weren't involved in the steering group.

    "Hopefully we can get people together now and find a way forward."

    On Friday, it was announced that fans group The Pars Community had failed in a deal to buy club owner Gavin Masterton's shareholding for £500,000.

    Leishman revealed that Masterton was not among those who have underwritten the administrator, but refused to direct criticism at him.

    "The man's been having a hard time and I wouldn't want to add to that," he said.

    "We've got to get the ball rolling and move forward and I've no time to be negative."

Link to comment
Share on other sites

Wow.  Just into administration having having built up massive (dodgy) debts, game against there supposed big rivals and 2,879 turn up?

Perhaps they just don't care.

I hope they do, would be shame if they went bust, especially as they won't be rushed back into the SFL like Rangers.

Will be interesting to see how their administrator acts compared to Duff and Phelps months of doing fuck all at Ibrox.

 

Link to comment
Share on other sites

  • 2 weeks later...
Dunfermline given Scottish Cup ban for Hamilton debt  Dunfermline Athletic will be banned from the Scottish Cup next season - unless they pay gate money owed to Hamilton Academical.

    A Scottish FA tribunal decided against fining the Fife club, who have since gone into administration.

    But they have also been given a "severe censure" for not paying their First Division rivals a share of the receipts from the 2 February fifth-round tie.

    Accies won the game 2-0 in front of 2,588 spectators at East End Park.

    An SFA statement said Dunfermline had breached disciplinary rule 320.

    The tribunal had decided to impose an "exclusion from the Scottish Cup until the debt is paid in full, with no imposition of a fine but a severe censure given".

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...