BusinessBusiness RecoveryFootball League approves Huddersfield rescue

Football League approves Huddersfield rescue

Huddersfield Town FC has emerged from administration after the Football League agreed to its takeover by local businessman Ken Davy.

Link: Future looks tough for Football League clubs

This will be a huge boost to the club ahead of the new season, which begins over the weekend. In addition it has also secured the services of accountant Roger Armitage, a partner at the Huddersfield officer of mid-tier firm Mazars.

Armitage will become a director at the club after his retirement from Mazars at the end of the month and will join the board.

Huddersfield Town went into administration on 31 March 2003 with debts of £22m and was later relegated from the second division.

Under a company voluntary arrangement agreed in June, players will receive their wages, while preferential creditors, including the Inland Revenue will receive partial payment.

Another club in administration, second division team Notts County FC, will also start the new season after the Football League agreed to a request from its administrator, Paul Finnity, a partner at Kroll Corporate Advisory & Restructuring Group, for more time to explore a new offer for the club, following the breakdown of a preferred bid.

The Board of the Football League will consider this matter again at its next meeting on 8 September.

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