Stockport County protest
Posted by John Beech on December 16, 2009
Back in July I blogged on A Forgotten Cost – the cost of having an Administrator, which either have to be added to a club’s debts or paid by a new owner. In particular I noted that football was providing an inordinate amount of business to insolvency practitioners, and that Begbies Traynor had just reported a major jump in profits.
In an unusual and welcome display of fan politicisation, a protest march is planned by Stockport County fans regarding what they see as the high level of charges being made by Administrators Leonard Curtis (1). Davis Schofield, co-organiser of the protest, thinks “the £300 an hour Leonard Curtis is charging is unfairly expensive“. At Southampton, Begbies Traynor were charging “around £340 an hour” earlier this year (2). Fair or unfair, the Leonard Curtis charge appears to be around the going rate – Administration is a decidedly expensive state to be in.