Macclesfield to swap Debt for Shares

As reported in our news round up Macclesfield Town have announced a plan which will strengthen their balance sheet by converting debt into share.

At the end of their last financial year the club were in debt to the tune of about £1.74M. 75% of this debt was loans from the club majority shareholders Amar and Bashir Alkadhi. Much of the remaining debt was loans by other directors.

Today the club have agreed to a 'major shift of debt to equity' by converting around half the debt into shares. They change, they say, will strengthen the balance sheet.

Macclesfield are hoping to move to a new ground and say that they are talking to potential new investors.

"These are exciting times for Macclesfield Town" said Vice Chairman Andy Scott.

"We believe we have a real opportunity to create a sustainable future but we need all the help we can get from the town and in particular from our loyal supporters if we are to succeed. We'd like them to join us as partners as we set out to build something we can be truly proud of."

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