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Chester are prepared to accept the pain of a further penalty and go ahead without their CVA, according to owner Stephen Vaughan.
In a statement he says the deal for his Chester City Football Club 2004 Ltd to buy the club from the former company is unaffected by the collapse of the CVA due to the taxman's court case. But he acknowledges that the FA and Conference are likely to attach further punishment: 'The FA may find it fitting to penalise us further but we await the outcome of their decision.'
He says the FA require a copy of the new company's accounts, evidence to support the projected turnover, proof that their due £225,000 parachute payment would cover all footballing debts, and that the council will re-assign the leases to the new company from the old one.
The Conference will meet on Monday to discuss Chester's plight, with their rules on Administration far more stringent than the FA. While an additional points penalty, in line with those imposed on the likes of Bournemouth and Rotherham when they failed to agree CVAs, is likely there remains a chance that they may be thrown out of the Conference completely.
