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RUFC - No CVA?

RUFC - No CVA?

The proposed new owner of Rotherham United, Tony Stewart, has said that it is probable that the club will have to start on minus fifteen points next season.

Mr Stewart, who we believe will be named as the new Owner/Chairman of Rotherham United tomorrow, will acquire the club without completing a CVA - a Company Voluntary Arrangement.

Speaking to the Yorkshire Post, Mr Stewart said, 'I have been advised that both legally and financially this is the right step to take.'

The Inland Revenue are by far the biggest creditors and are owed around £500,000 by the club and are unlikely to settle for a CVA.

'I would love to be able to pay off the creditors because they have been the fall guys in all of this,' said Mr Stewart, 'but we would not have got the CVA accepted.

'I am a novice in the football market but I am an experienced business man and I want this club to go places.'

After reading this I think all Millers will be taking an extra special interest in what happens with Leeds United today and their fight to have their fifteen points reinstated.

Writer:Herringthorpe
Date:Thursday May 1 2008
Time: 8:37AM

Comments

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I am sure you are waiting like us with baited breath for the Leeds outcome.
dazza71
01/05/2008 16:20:00
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2 Newcastle 33 22 4 7 70 37
3 Huddersfield 33 20 5 8 65 8
4 Leeds Utd 34 19 4 11 61 12
5 Reading 34 18 6 10 60 2
6 Sheff Wed 34 17 7 10 58 9
7 Fulham 33 14 11 8 53 17
8 Preston 34 14 10 10 52 5
9 Norwich 33 15 6 12 51 11
10 Barnsley 34 14 8 12 50 4
11 Derby County 33 13 9 11 48 6
12 Cardiff 34 13 7 14 46 -2
13 Brentford 33 12 7 14 43 2
14 Birmingham 34 11 10 13 43 -13
15 Ipswich 33 10 11 12 41 -7
16 Q.P.R. 34 11 7 16 40 -11
17 Aston Villa 33 9 12 12 39 -7
18 Forest 34 10 7 17 37 -12
19 Burton 34 9 9 16 36 -13
20 Wolves 32 9 8 15 35 -5
21 Bristol City 33 9 6 18 33 -6
22 Wigan 34 7 10 17 31 -10
23 Blackburn 32 7 9 16 30 -13
24 Rotherham 34 4 5 25 17 -45
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