Liquidation threat hangs over Wimbledon FC

A consortium, InterMK, led by music entrepreneur Pete Winkleman, is bidding to buy the club.

However, creditors are owed £25m and if no deal is sorted out, liquidation could follow for the club which is anchored to the bottom of division one of the Football League.

'The future of the club depends on the decision of the creditors,' said a statement from administrators, Andy Hosking and Nick Wood, partners at Grant Thornton.

They added: 'We are pleased to announce that we have reached agreement with InterMK and are finally in a position to submit a company voluntary arrangement (CVA) proposal to the creditors.

'If the creditors accept the proposed CVA then Wimbledon FC will pass to the new owners on 18 March 2004.

'If the proposal is not acceptable to creditors then we will have no option but to place the club in liquidation.'