Football Crisis Hits Meadow Lane

Last updated : 10 June 2002 By Notts County Mad
Notts set to go into Administration - or even Liquidation.
Notts look set, sadly to go into Administration after a proposed £1.7 Million loan guarantee from Nottingham City Council fell through.

Acting Chairman Albert Scardino said: "They threw us a lifeline, then cut it, just as we managed against all odds to haul ourselves up to the boat.

"We own the stadium, but we can't pay our bills with the stadium. We need the value of it, a small part of the value, in cash to pay the people who have done business with us in good faith."

City officials told the club that they had withdrawn the offer because it was "a risk to public money."

Scardino is furious at the City Council - and rightly so
"The abrupt U-turn has come as a shock," Scardino added. "We've done everything that was asked of us six months ago, from increasing our fan base to shoring up our finances.

"We cut costs and opened our doors and our books. Thanks to Billy Dearden's remarkable leadership, we even neatly escaped relegation. Now, everything is at risk, because the city has decided not to keep its promise."

The Magpies looked relegation certainties when they drew with Colchester at the end of February but an amazing run of seven wins in the last ten games helped them to avoid the drop to the third division.