The Management Committee of the Football Conference will meet today to decide on the fate of Chester City with an announcement expected to be made on Friday.
The Deva Stadium club is facing a winding up petition from HM Revenue and Customs about the ability of City’s owners to run the club in a professional manner.
The Conference hierarchy are also concerned about the clubs ability to complete their fixtures, given the exodus of City’s unpaid senior players and the apparent fiscal meltdown at the Deva.
It is understood from a source at the Conference that Chester will be represented by owner Stephen Vaughan Junior, managing director Bob Gray, and advisor Gary Metcalf who a few months ago was linked with a possible buyout from the Vaughan family.
If the committee aren’t convinced by the assurances and financial projections that they are presented with by the City delegates they could well invoke the ultimate sanction and expel City with immediate effect from the competition. Expulsion would inevitably lead to Chester going out of business, which would bring the clubs 125 year existence to an end.
The Daily Post has been informed that a group of local businessmen approached a representative of the owner last week with an offer to take over the club, however that offer was turned down, because a part of the deal would have meant the owner relinquishing £485,000 that the Vaughan family claim they have invested in the club since May 2009.
Leave a Reply