Kidderminster Harriers Football Club would like to release the following statement from its Board of Directors.
Having accepted a takeover offer from Mr Chris Swan, the Board of Directors were anticipating the completion of the Club's sale during lunchtime on Thursday, February 03, 2011.
The Board, however, has learned this lunchtime that Mr Swan has withdrawn his interest in purchasing the Club as he is unable to reconcile fundamental issues. The Board is now consulting with its legal advisors to assess further options.
Having accepted a takeover offer from Mr Chris Swan, the Board of Directors were anticipating the completion of the Club's sale during lunchtime on Thursday, February 03, 2011.
The Board, however, has learned this lunchtime that Mr Swan has withdrawn his interest in purchasing the Club as he is unable to reconcile fundamental issues. The Board is now consulting with its legal advisors to assess further options.
This news leaves us facing a winding up order by the taxman later this month and, of a more immediate nature, players not having been paid yet this month. We also face an estimated running cost of £150,000 to find before the end of the season so that we can at least start with a clean slate next season if we are still in existence by then.
We also face going into almost certain administration by next week and will then be facing an immediate ten point deduction by the Conference. At least this penalty shouldn't see us relegated because, being on the edge of the play offs, we do have a very good points cushion. The worry comes if we can't pay our creditors off by next season because that earns an automatic demotion into which ever league the Conference places us.
Keith Chandler, a member of the remains of the KHFC board has, this evening, appealed for fans to come forward and help the club in the coming days:
So roughly what is needed to get to the end of the season having accounted for the gate receipts of our remaining home games and all other realistic income streams.
From the figures that have appeared in the press and elsewhere it does not take a genius to work out it is roughly £150K. The Directors, including Mark Serrell, agreed some time ago that they could do a reasonable part of that but it fell short and as soon as it falls short the residual debt brings you down. So it is simple really you need, as I understand it, £150K on top of all other revenue streams into the football club to get to the end of the season. Once or twice we have got close to securing that sum but each time something has occurred to upset the apple cart........
.....To assist Chris Swan in his take over of the football club he announced that a group of dedicated Harriers supporters would help him by settling the monies due to HMRC (Tax man) - this is a considerable sum of money I might add. I don't know exactly who those group of dedicated Harriers supporters were but I would say this to you.
"If you were prepared to help Chris Swan with such a substantial injection of funds please set out your terms to do the same NOW because with other funds available from the Directors and others the £150K can be achieved.
If you have conditions to make that money available set them out. If you need me, Wayne Allen or Mark Serrell to resign and walk away then for me I would do that and I am sure both Wayne and Mark would do the same. If your conditions require that we stay on in different capacities state what those are and they will be properly considered.
Let me make this clear here and now - you can, with others, save this football club from administration - you were prepared to assist Chris Swan in taking over this Club please at least give the current Board a similar opportunity".
From the figures that have appeared in the press and elsewhere it does not take a genius to work out it is roughly £150K. The Directors, including Mark Serrell, agreed some time ago that they could do a reasonable part of that but it fell short and as soon as it falls short the residual debt brings you down. So it is simple really you need, as I understand it, £150K on top of all other revenue streams into the football club to get to the end of the season. Once or twice we have got close to securing that sum but each time something has occurred to upset the apple cart........
.....To assist Chris Swan in his take over of the football club he announced that a group of dedicated Harriers supporters would help him by settling the monies due to HMRC (Tax man) - this is a considerable sum of money I might add. I don't know exactly who those group of dedicated Harriers supporters were but I would say this to you.
"If you were prepared to help Chris Swan with such a substantial injection of funds please set out your terms to do the same NOW because with other funds available from the Directors and others the £150K can be achieved.
If you have conditions to make that money available set them out. If you need me, Wayne Allen or Mark Serrell to resign and walk away then for me I would do that and I am sure both Wayne and Mark would do the same. If your conditions require that we stay on in different capacities state what those are and they will be properly considered.
Let me make this clear here and now - you can, with others, save this football club from administration - you were prepared to assist Chris Swan in taking over this Club please at least give the current Board a similar opportunity".
So there we have it. The saviour has spread his wings and flown and left the debris in his wake to be cleared up by what remains of the board of Kidderminster Harriers FC and it's army of long suffering fans.
We now all need to work together and stave off this possible administration or at the least minimise the damage that could be done. If we don't do this then Swan will be turning mid flight and landing on our shores once more to grub around in the mud.
