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Sunday, June 16, 2013

Shots Debt Rises To £1.4millon


Aldershot's total debt has been put at £1.4million, up from the original figure of £1million.

In a report to shareholders, the Administrator says he is in exclusive negotiations with one of three bidders for the club with a CVA proposal to meet the Conference's 100% payment demands set to go before creditors on July 1st.

Of the £1.4million figure around £325,000 is owed in player wages. Former manager Dean Holdsworth is also listed amongst creditors, claiming £40,000 following his dismissal, along with several other football clubs who are mostly owed sums for loan players. All of these sums would need to be paid in full within 12 months of a CVA being agreed.

Directors loans total £600,000 with current chairman Shahid Azeem owed £200,000 and former chairman - and majority owner - Kris Machala owed £160,000. The taxman is owed £50,000, while the Administrator has already racked up over £100,000 in charges since coming into the club in April.

Shots fans have taken to message boards to question whether the club is worth saving given the repayment demands placed on them by the Conference.