News Update

[Margate Football Club]

The Directors efforts to clear the outstanding Revenue and Customs debt, in time for the revised hearing in November continue but to date no firm commitments have been made.

 

In order to protect the long term future of both the Club and the redevelopment, the Directors, in conjunction with the Clubs Development partner, have agreed to apply for a Company Voluntary Arrangement.

 

The proposed CVA will be for a fixed period of one year. It will carry an undertaking from our Development partner that Revenue and Customs will be paid in full upon them entering into necessary leases with Thanet District Council and commencing the redevelopment.

 

Whilst the proposed CVA will provide the protection needed to prevent the Company being wound up, the Club will automatically be deducted 10 points by the Football Association for its actions.

 

The Directors continue to seek an alternative route for the Club and would like to thank MISA for their continuing efforts to raise funds. Should an alternative solution be found prior to 26 November 2008, the CVA will be halted.

 

Up the Gate!

 

[urchinman1961]

i personally am sorry to hear that they have done this to you but it's normal procedure these days like all great clubs(includin the urchins)i'm sure u will bounce back this is a time for all gate fans to up the noise and really get behind your team yet again, up the gate

[BlueGate Alan]

They haven't done it Dave, its the club who may have to do it.

[BlueGate Alan]

Fingers crossed for a miracle to happen in next few weeks, but I fear not.

[michael]

And of course-the CVA needs to be accepted ,which is not a forgone conclusion .

 

What happens if planning comes through prior to the 26th ?

 

Does the FA by imposing the points deduction, also place a transfer embargo on the club-i'm not sure-can anyone supply facts on that ?

[BlueGate Alan]

Does it matter MM, who would want to come now??

[seasidesteve]

so much for the WE WILL BE OK message from the directors a month ago

[BlueGate Alan]

For once Steve I totally agree with you

[michael]

14 points from safety then after the embargo.

 

Thats 5 wins just to get on terms .

A tough one but it can be done.

 

If there is no embargo, i see no reason why that would not stop players joining the 'gate.

 

Up the 'Gate.

 

I can't help thinking that this is maybe the last of the bad news, and that the only way is now up (maybe after the down of relegation )

 

 

[BlueGate Alan]

Am trying to "Keep the Faith" here but not easy the way I feel at the moment.

[Andy .]

What they say is only to keep people like the surport happy , then unfortunatly the truth comes out and the team suffer for the consiquences of the Boards errors .

AND THE BOARD ARE THE SAVIOURS OF THE CLUB SOME WILL SAY :

Sorry but i don`t agree this time .

Why should the team work hard to regain possibly 3 wins and a draw , two much pressure on a young squad already and then they have to be punished by someone else`s errors . Good luck to the team and surporters for this season . NEW BOARD PLEASE UNLESS THE MONEY IS FOUND .

[ronks41]

Not great news but if the squad stick together its not beyond them to climb quite easily during the second half of the season.They have the ability and hopefully the right leadership.

[michael]

Surely this is no great surprise-did people not realise the seriousness of the situation re:HRMC.

 

Its not exactly easy to find

[BlueGate Alan]

Its the team I feel for at this moment.

[michael]

Just read Ronks post-absolutely agree-and Ronks may be a good barometer of how the team feels.

 

I'm sure TY has made them aware that theire job is just to win those games.

 

As regards the team-as long as they are being paid-nothing has changed for them-maybe it might them do better-they will be heroes if they can get those 49 points on top of the 2 we have already.

 

up the 'Gate

[Wellsie]

We should sign Steve McQueen

[michael]

Terry is on to his brother-Gordon -as we speak

[BlueGate Alan]

Is he available

[BlueGate Alan]

I do still support the TEAM Michael.

[ronks41]

MM,not sure that I could be classed a 'borometer' at this time to be honest.Players are gonna have a varied view on the situation and may not all be of he same accord. The other important factor here also is the 'support' or 'lack of' due the current circumstances.That will be such a large 'variable' in the whole equation.