Threat of administration grows at Lewes (From The Argus)

Threat of administration grows at Lewes

8:40am Friday 13th February 2009 in

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Lewes have told potential investors to come up with the cash by the end of next week or the club could go into administration.

Managing director Martin Elliott is hopeful there will be a positive outcome to the long-running financial problems which have cast a cloud over the club’s debut season in Blue Square premier.

However, he has warned administration is a realistic option if he fails to get a commitment from interested parties in the next few days.

Lewes were put up for sale amid mounting debts at the start of November and the threat of administration has hung over the club since.

Elliott saved the Rooks from a similar financial predicament nine years ago and his board has since funded the club’s remarkable rise from Ryman division three to the top-flight of non-league football.

They have been hunting for fresh blood at boardroom level for more than a year and now acknowledge it is decision time in terms of the future of the club.

A meeting was held on Tuesday when more financial information was given to potential investors who attended the meeting along with representatives of the Members Club, Supporters’ Trust and some existing directors.

Elliott said: “We are looking for people to firm up their commitment by the early part of next week.

“We want to get this resolved in a matter of days so that the new board or management group can start making plans for next season. If it doesn’t happen then administration is still a possibility.

“The majority of people would want to avoid seeing us go into administration because we can then manage the situation ourselves. If you go into administration it is taken out of your hands.”

Elliott would not say how many people were interested in investing but was pleased by the response and says it is not too late for others as long as they act immediately.

He said: “There is still time for other people to come forward and, let’s face it, we have a good club here. We have a great ground, great hard core support, good facilities and a nominal rent. We have a great education and community side and a great under-18s team and coaching staff. There are a lot of positives.

“We have been talking to a lot of people. We are looking for ten-plus but if it was nearer 20 that would be an awful lot better. The mood of the meeting was let’s rally round, let’s pull together.

“The majority see the sense of avoiding the administration route. I have to accept there is an argument under certain circumstances that it could be considered as a better way of going about it but it is not an argument I subscribe to. Others have seen it as a way to wipe the slate clean and have used that route but I feel it creates problems.”

Elliott admitted issues relating to the day to day running of the club had been neglected while the bigger picture of their future is resolved but he is hopeful a new board or management group will get to grips with these. The same could be said about the football side of the club which has meandered along since the club’s financial problems came to light.