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RUFC - It's Minus 17

RUFC - It's Minus 17

Rotherham United will start next season with minus seventeen points.

The Statement on the Football League's Official Site is:


FL BOARD STATEMENT

At its meeting this evening, the Board of Directors of The Football League considered applications for membership of The League relating to Rotherham United and AFC Bournemouth.

The Board also considered Rotherham United's request to play its matches at Don Valley Stadium, Sheffield.

- Rotherham United

The Board considered an application from a company - Rotherham United (New Co.) - which has applied to join League 2 in place of the existing club, which is currently in administration.

Rotherham United (Old Co.) has been unable to agree a Company Voluntary Arrangement (CVA) with its creditors and as a consequence is unable to satisfy the normal conditions of The League's insolvency policy for exiting administration.

The Board decided, however, that it was prepared to exercise its absolute discretion under the 'exceptional circumstances' provisions of its insolvency policy. Therefore, in accordance with recent precedent, the Board has made the following offer to Rotherham United (New Co.). Acceptance of the Board's offer is a pre-requisite to the exercise of that discretion:

1. The club will be deducted 17 points for the 2008/09 season. This takes into account the fact that this is the club's second insolvency event in recent seasons.
2. The club must provide a legal waiver indicating that it will not challenge or appeal this decision.
3. The club must undertake to return to Rotherham within four years and provide an irrevocable bond of £750,000. This will be forfeited if the club fails to return within that timeframe, as will the club's membership of The Football League.
4. The club must pay unsecured creditors the amount offered at the time of the CVA hearing.

The Board's offer is subject to the club agreeing these conditions, and formal agreements being signed, by 12.00 noon on Friday.

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Writer:Herringthorpe
Date:Wednesday August 6 2008
Time: 7:47PM

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Comments

0
the hard work starts now but not looking good for Bournemouth
Mexbro miller
06/08/2008 19:49:00
0
Wish you all the best Millers. I think you can escape the trap door. Whats the score with Bournemouth. Any idea what penalty they will receive?
Aston Smithy
06/08/2008 19:52:00
0
At least you know where you stand and it could have been a lot worse. -17 is a bit arbitrary..
monkeyg
06/08/2008 19:55:00
0
Only 3 less than Luton (the other 10 apart)
codbater
06/08/2008 20:05:00
0
I am so sorry to hear that, I wish you all the best in the season.
dazza71
06/08/2008 20:32:00
0
Well, it's 3 better than I thought it would be - message to the board 'Please don't forget to send the papers in by midday on Friday'
herringthorpe
06/08/2008 21:31:00
0
its all starting to get out of hand.football is a game being wrecked by money. good luck this season.
SweetLeftFoot
06/08/2008 22:20:00
0
Thanks SLF - yes its just no fun anymore is it
herringthorpe
06/08/2008 22:21:00
0
It could have been so much worse guys, heavy but managable after your opening day defeat. ;-) chin up !!!!!!
C T E
06/08/2008 23:12:00
0
At least you now know where you stand from a points position. -17 is steep, but it could have been worse. Best wishes after saturday!
Impish
06/08/2008 23:20:00
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