Windsor & Eton hit by possible double division relegation

[Ground Hopper]

Windsor & Eton’s plans to enter a Company Voluntary Arrangement (CVA) have been hit by the news that the move could see the club relegated two divisions reports the Maidenhead Advertiser.

 

The news was delivered this week by the Football Association and Southern League and led to a meeting being called for tonight (Thursday) at the club.

 

Would-be owner Kevin Stott, a number of committee members and boss Dave Mudge were all due to meet to discuss the best way to move forward.

 

There are three options to consider:

 

The first would be to enter a CVA and agree to pay off the club’s creditors at a rate of 100p in £1 over a three-year period.

 

The second would be to continue with the current plan, entering a CVA and paying the creditors off at a rate less than 100p in £1.

 

The problem that has now arisen with that route, however, is that it will lead to relegation from the Southern Premier Division at the end of this season, no matter where the club finishes in the table. But should they finish in the drop zone, they will be relegated two divisions.

 

The third option would be to agree to pay off the Inland Revenue the money that they are owed (around £60,000) and then negotiate a payment plan informally with the other creditors.

 

Stott said: “We spoke to the FA ad Southern League to get absolute clarification about what would happen if we went into the CVA.

 

“Obviously the options do not look too good and I think we will be one of the first clubs, if not the first, to be so severely punished.

 

“If we take the second option then that’s almost the same as if we get wound up and start again.

 

“It’s a very challenging situation. If we take that route and get relegated, and then as a result of the 10-point penalty we drop into the bottom three, then there’s an argument that maybe we shouldn’t do it.”

 

Stott added: “All of the options come with risks and sacrifices. What I’m doing at the moment is working things through.

 

“My whole objective when I was asked to get back involved was, ‘how do we sort out where we are and how do we create a better future?’

 

“The trap I don’t want to fall into is to keep the club going at all costs and then not be able to create that future.”

 

 

[Krooner]

I think if they agree to pay their creditors in full then they should be allowed to stay where they are. If they fail in that then punish them. They should be encourage to pay all they owe not penalised !