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.
John Beech said
UPDATE
The protest has had a positive outcome in that the Administrators have agreed to meet the organisers of the march (1). A target date for a sale to the Jim Melrose consortium has been set at ‘mid-January’.
John Beech said
UPDATE
There is more press coverage of the march here, including input from PFA Chairman Gordon Taylor.
John Beech said
LATEST
It’s being reported that the Melrose consortium and the Administrator have concluded a deal (1). The deal is still subject to Football League approval however.