Rotherham receive League offer


By Nathan Jackson
August 6 2008

Rotherham United have received an offer from the Football League ahead of the new season. The Millers have entered administration for three seasons in a row and it looked as though they wouldn't even start the 2008/9 season, but the club now have a deadline of 12 midday on Friday to accept conditions set by the League.

City's game at Rotherham United has always been in doubt due to many reasons, the main one being Rotherham's lack of a guaranteed ground for the new season. That fact combined with money troubles and numerous other factors meant it looked unlikely that the club would compete in the Football League this season, however, they have been made the following offer.

1) To start the season on -17 points.

2) The club must sign a waiver meaning that they can't appeal the decision after it's been accepted.

3) The club plays a £750,000 over the space of four seasons.

4) The club must pay off the unsecured creditors for the amount offered at a CVA hearing.

The Millers have a deadline of 12 midday to accept this offer, otherwise they will not enter the League this season.

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Rotherham receive League offer
Discussion started by theimps.tk (IP Logged), 06/08/2008 20:28
theimps.tk
theimps.tk
06/08/2008 20:28
Rotherham receive League offer

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elgy
Helgy.
06/08/2008 21:17
Nathan you have missed out on no 3 that if they don't return to Rotherham after 4 years not only the bond gets forfeited but their league status as well.

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MichiganImp
MichiganImp
07/08/2008 12:02
So MK Dons could move from London to Milton Keynes and get the League's approval, but Rotherham move 20 minutes down the road to secure the future of the club, have to put £750,000 down as security to move back to the town within 4 years and will lose their league status as well if they don't.
That's hardly consistent. The Franchise got away with it.

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plum06
plumbob
07/08/2008 12:13
Good point about MK.

But, I don't think MK were not up the financial creek at the time of their moving. And Sheffield already has 2 clubs in the City, Milton Keynes didn't have one at all.

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Salfordimp
Salfordimp
07/08/2008 12:30
lets get para 3 correct now quote
3. The club must undertake to return to Rotherham within four years and provide an irrevocable bond of £750,000. This will be forfeited if the club fails to return within that timeframe, as will the club's membership of The Football League.
unquote
1. it does not say pays the the £750k over 4 years!
2. it does say that they will kicked out if they do not comply to the terms of para 3.
If you are going to report please report correctly.
Thank you

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MESSAGES->author
PoshImp
07/08/2008 12:32
I think the comparison between MKD and Rotherham is not one that can be made.

I seem to recall that the furore that followed MKD's move made the FL change their rules. At that time, there was no specific rule that meant they could be prevented from moving so the FL then added a rule that clubs in future will not be able to move from one town to another, except as a groundshare and for a limited time period (say whilst own ground is being developed) of a maximum four years. This is where Rotherham sit now.

(Sm85)

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lincoln.imp
lincoln.imp
07/08/2008 18:24
The CVA was not accepted, how can the FL speak for all the creditors and say they have to agree to it?. I do not think we have heard the end of this yet.

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elgy
Helgy.
07/08/2008 21:58
Was it the inland revenue reject the cva?
They only accept 100% so i doubt we as stated heard the last of it.

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lincoln.imp
lincoln.imp
08/08/2008 08:39
In the case of Rotherham the CVA was only accepted by 7% of creditors. I have just read that only HMRC rejected the Bournemouth offer.

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elgy
Helgy.
08/08/2008 10:22
I think that 75% of the total debt have to agree then the other 25% have to accept what was offered.

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