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Posts Tagged ‘money’

Chester City FC (2004 Ltd) are back in the High Court on Wednesday March 10 as they face a winding up order from HMRC.

The amount of money owed is £26,125.

Adding to the Vaughan Family woes is the news that the Council may seek to evict the club from Deva Stadium over late payments of rent.

Could these events signal the liquidation of our once proud club?

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A fit and proper person (or persons), and a minimum of £500,001 in cash, are two of the requirements to take over Chester City Football Club according to a leaked solicitors letter that has appeared on internet chat forums earlier today. 

Presumably scottish notes will be acceptable.

The email reads as follow’s…

“Thank you for your email.

Prior to the release of any further information regarding Chester City Football Club, I need the following/confirmation of the following:

1. Proof of funding of a minimum of £500,000 cash, to both satisfy club creditors and to fund the club going forward;
2. The identity of the consortium/company behind the purchase of the club to satisfy the ‘fit and proper person test’ imposed by the league;
3. A commitment to pay the club’s legal fees; and
4. A commitment to sign a non-disclosure agreement.

The club is prepared to allow a potential purchaser 4 weeks to complete their due diligence.

Kind regards,

Brabners Chaffe Street, 55 King Street, Manchester M2 4LQ”.

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