We are not millions in debt, say Crawley Town

Crawley Town have denied claims that are millions of pounds in debt ahead of next week's takeover completion.
By The Newsroom
Published 20th Feb 2016, 10:57 BST
Updated 20th Feb 2016, 11:07 BST

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Crawley Town FC chief executive Michael Dunford (left) 19-05-2015. SR1510634. Pic by Steve Robards SUS-150519-152547001Crawley Town FC chief executive Michael Dunford (left) 19-05-2015. SR1510634. Pic by Steve Robards SUS-150519-152547001
Crawley Town FC chief executive Michael Dunford (left) 19-05-2015. SR1510634. Pic by Steve Robards SUS-150519-152547001

The League Two club’s board have released a statement to clear up what they call ‘misunderstandings’ in the European mdia.

Claims in the Turkish press have suggested that new owner Ziya Eren, who is the president of Turkish first division side Kayseri Erciyesspor, will be taking on £2.5 millions of debt.

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The club, however, has said Reds will be handed over in a stable financial condition and in much better financial health than it was six years ago, before promotion into the Football League, when it carried big debts including unpaid VAT bills.

Chief executive Michael Dunford said: “When we leave the club it will be in a sound financial position. Speculation in the press in Europe that we have debts of £2.5m are simply not true.

“It was important when we complete the sale of the club that we give the new owner a fresh slate. Our creditor debt is less than £170,000 which is normal for a club of our size.

“No shareholder, director or benefactor will have any loans left on the books at the point of handover.

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“There will also be no bank debt or overdrafts and no long-term player contracts as only three of our squad are currently contracted beyond the end of this season.

“The new owner will also benefit next season from receiving an increase in central payments from the Football League of approaching £200,000.

“This is almost the same sum as Paul Hayward, the Bangkok based businessman who is our principal benefactor, had committed to make by way of donations in the current financial year.”

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Related topics:Crawley TownLeague Two