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Whilst focus in non league circles has, rightly, surrounded the increasingly grim proceedings at Darlington and Kettering in recent times, these clubs are by no means alone in suffering financial troubles. Today two more clubs made announcements which bode well for the short term, and both related to unpaid tax bills.
First, Truro City of the Blue Square South announced they had managed to muster up a six figure sum just hours before a winding up hearing was due to be heard. There may still be questions unanswered in their case, but it’s a start.
Farnborough too announced the payment of an unpaid tax bill and, like Truro, hope to see the lifting of the transfer embargo they have been placed under.
Themselves a reformation of Farnborough Town, who were liquidated in 2007 after administration, Boro find themselves in the unusual position of being owned by their manager, Spencer Day. In statements to the media after a 4-0 win over Boreham Wood, Day revealed he had stepped in when examination of the accounts revealed the severity of the problem. He was in a position to do so having already loaned the club a reported £900k in November, the shares transferring to his possession in the absence of a takeover within the subsequent 28 days.
Day is, he says, a reluctant owner and will be looking to sell the club on once a buyer can be found. Negotiations with a consortium lead by former captain and fan’s favourite Tim O’Shea broke down when Day made his investment. The consortium claimed they had been outbid, Day denied it but subsequently relented upon the production of solid evidence to the contrary.
The story takes on a more interesting note with the addition of two further facts. Day had only just arrived at the club from nearby Chertsey after the sacking of Gary Haylock, who had presided over a run of just a single point from 27 which saw the club drop into the bottom three.
The second fact has, potentially, more sinister undertones. Spencer Day attained infamy within Hampshire football circles under his previous name – Spencer Trethewy. The same man who played such a central role in the demise of Farnborough’s near rivals Aldershot 20 years ago. Whilst there is no suggestion of any repeat, the very fact is sure to have caused a tremor of unease amongst Boro supporters.
Indeed, since those misadventures at the Rec in 1990, Day has successfully built a property business and now boasts considerable wealth. He certainly invested heavily in Chertsey, both on and off the pitch, and Farnborough supporters will be hoping for further progress with their sizeable debts.
The very existence of such significant debts, estimated to be £1.7 million in November, is a matter of some concern for a club only four years old and one which should have known better considering what went before. The question of why a club in only its second season at Step 2 has gone full time needs to be asked and more importantly, answered.
A period of stability is to be hoped for, and not only off the pitch – Boro are now onto their third manager in 12 months. Haylock himself was only appointed in the summer after the departure in controversial circumstances of Steve King, the same Steve King suspended from the manager’s position last week by Lewes.
As yet, Lewes have made no statement other than to announce that an investigation is underway and that the reason for the suspension is confidential. As can be expected, this hasn’t exactly helped dampen the rumour mill but suffice it to say that the situation must be a serious one to warrant the approach taken by the board.
Given the manner of his departure from Farnborough, soon after defeat in the promotion playoffs and amongst accusation and counter accusation, and that his previous tenure at Lewes coincided with severe financial trouble as the club spent its way into the Conference only to collapse under the strain, it’s would be no surprise to find interested parties adding two and two together. The true nature of events remains to be seen.