Archived News from April 2014
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MTFC ACCOUNTS:STAGS OPTIMISTIC DESPITE DEBT RISE
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Stags £4.6m in debt at start of current season
chad.co.uk, 03 April 2014 Mansfield Town’s latest accounts show them to be a further £1m in debt as their deficit extended to £4,678,129 for the year ending 30th June 2013. http://www.chad.co.uk/sport/mansfield-town/stags-4-6m-in-debt-at-start-of-current-season-1-6540336 Chad believes the Stags owe £3,648,715 to chairman and owner John Radford’s company, One Call Insurance Services Limited, with most of the rest owed to former directors Andy Saunders and Steve Hymas, who are taking legal action against the club to recover their investments, totalling around £1m. The Companies House entry for 29th March 2014 states: “The company has significant net liabilities and continues to trade at a loss. “The ability to continue trading is totally reliant on the major shareholder and its creditors.” A Mansfield Town spokesman said: “The latest figures effectively represent the price of promotion to the Football League, as well as the investment of other areas of the football club, which has allowed it to grow and develop in the past few years. “The club expects to see an improvement in the next financial year, whilst still operating at a loss, as is the case with the majority of football clubs at our level.” ------------------ Stags Optimistic Despite Debt Increase mansfield103.co.uk, Thursday 3rd April, 2014 Despite an increase in the amount of debt Mansfield Town has, according to the latest club accounts, the Stags remain optimistic for the future. http://www.mansfield103.co.uk/sport/story/?n=3033&utm_source=twitterfeed&utm_medium=twitter For the year ending June 2013, the net liabilities of the One Call Stadium club were £4,675,771, a rise from £3,493,696 the previous year. Of that, over £3.6m was owed to companies owned by Stags owner John Radford, up from just over £2m in 2012. A club spokesman said: “The latest figures effectively represent the price of promotion to the Football League, as well as the investment of other areas of the football club, which has allowed it to grow and develop in the past few years. “The club expects to see an improvement in the next financial year, whilst still operating at a loss, as is the case with the majority of football clubs at our level.” ------------------ |
Latest | April 2014