Thu, 28 Jun 2012 | ADMINISTRATION
Motherwell football club has warned that it could be forced into administration over potential cash flow problems in the upcoming season.
Scottish football clubs are to vote on 4 July on whether to accept Rangers into the Scottish Premier League (SPL) as a newco.
Scottish community football club Motherwell is concerned that if troubled Rangers FC is kicked out of the top tier it may struggle to “replace significant amounts of income” from TV and gates sales - a potential domino effect caused by Rangers club being in administration.
“It is clear that, if we are unable to replace significant amounts of income lost under either scenario, the club could be facing an insolvency event,” a statement released online read.
“Following new rules recently introduced at [the] SPL, this would lead to a 21-point deduction, being one third of last year’s total.”
The statement continued to read that the board believes regardless of what decision is “made on the newco vote by the SPL clubs, the financial position of Motherwell Football Club will suffer.”
Apart from the repayments for a £340,000 loan from shareholder John Boyle, Motherwell is presently free of debt.
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