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Ben Hayes - Charlton Athletic programme

League 2

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Double joy at Vale

Not only can Port Vale fans celebrate last night's Carling Cup victory at QPR, there is a real prospect of new investment at the club.  Mike Newton, who works for a New York hedge fund ,is prepared to put in £400,000 which would be small change at a Premiership club but could make a real difference at League 2 level.  However, he does want to become chairman and at the moment all that is on offer is a seat on the board.

Southend avoid administration

Southend United have avoided going into administration.   The tax authorities had argued that the League 2 club were so often behind with their tax payments that they must be insolvent.   However, they have now reached an agreement with Revenue and Customs to pay off their debts by instalments.  They still face a winding up order from Charterhouse Finance on August 11th, but they seem to be confident of dealing with that debt, largely because of their partnership with Sainsbury's

Southend win reprieve

Southend United have been given 14 days to sort out their financial  affairs after appearing in the High Court to answer a winding up petition from HM Revenue and Customs over unpaid tax debts of £200,000.   The Shrimpers should receive a cash boost after the sale of Nicky Bailey by Charlton to Middlesbrough.   They wisely inserted a selling on clause in the contract and although Bailey is not too popular with Southend supporters, at least they will see some financial retu

Farewell to Saltergate

Some years ago I went to a match at Chesterfield's Saltergate stadium which had a capacity of just 8,504.  It was an evocative atmosphere and the small group of away fans at one end of a stand were seated on what looked like wooden benches.  Now the Spireites have played their last game there.   Their wealthy new owner who is in the Sunday Times rich list has brought to completion a long-term plan to move to a new 10,000 capacity stadium.

Not the way ahead

I had a phone call this afternoon from the sports editor of a town with a League 2 club.  They went through an administration that threatened the future of the club some years back and since then  they have been careful with their money.  As a result they're not achieving much on the pitch.  No dange of relegation to the Conference, but way off the play offs.

Hereford United up for sale

Chairman Graham Turner and vice-chairman Joan Fennessy have put their shares in Hereford United up for sale.   Turner came to the club in the 1995-6 season, becoming chairman a couple of years later.  In many respects the club is in good shape.  It has made a profit six years in a row.  A grant of £750,000 from the Football Foundation will help to upgrade facilities at the Blackfriars Street end with a 1,600-seater stand.   The downside for

Cherries in the clear

Bournemouth have settled their tax debt with Revenue and Customs. The payment of the £314,000 debt comes ahead of next Wednesday's hearing at the High Court, where the League Two side were to face a winding-up order.  Subsequently, the Football League have lifted the transfer embargo that was placed on the club in December 2008.  However, transfers at the club will continue to be monitored until August 2011.

League 2 club's 6th straight year in black

For the sixth successive year, League 2 side Hereford United will record a profit, despite experiencing relegation from League 1 in the year covered by the accounts.   In the year to 31 May 2009, Hereford made a profit of £26,899, well down on the £408,467 earned in th previous, promotion year.  During the last six years Hereford have announced profits of almost £1.2m.   The club is finalising a joint venture agreement with developers, Richardsons, which will account for United's lomg-term debt and is in the process of securing a new, long lease on the ground.

When a new stadium is a liability

One of the problems of football finance is that the stadium is a capital asset which is used for its main purpose at most about twenty-five times a year.  Football clubs have made efforts to hire out their function rooms for conferences and meetings, but this is a competitive market and one that has been hit by the recession.   I have seen novel solutions abroad, for example at Utrecht in the Netherlands where there are shops and small businesses in the space available under the rising stands.  But there isn't much you can do with the pitch itself between matches if you

Dream ends at County as Eriksson leaves

The dream of promotion to the Premiership in five seasons has finally ended at Notts County with the sale of the club and the departure of Sven-Goran Eriksson.   The Swede will stay on in the purely honorary role of joint life president.