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Staff at Wanderers will not be paid this month unless the club receive funds by close of play today.
That is the stark reality at the Macron Stadium, where talks have continued with potential buyers over the last 48 hours in a desperate attempt to solve the financial crisis destroying the club.
In order for wages to be processed normally to full and part-time non-playing staff, money will have to be moved into the club’s account today, with payment due on Friday.
Bidders have been speaking with Wanderers in the past couple of days and have spoken confidently behind the scenes about a deal being close – but the indication from the boardroom is that the situation has not progressed satisfactorily and it now looks unlikely that a conclusion will be reached in time for Christmas wages to be paid on time.
It is rapidly becoming a PR disaster for Eddie Davies, who could yet choose to put his hand in his pocket one final time to avoid a complete catastrophe.
Two established parties – believed to be the Sports Shield consortium and a group of Thai investors – are still in active negotiations to buy the club but have not yet satisfied Davies or his financial advisor Trevor Birch with their plan.
Much of the national attention has been focused on non-payment of Neil Lennon’s players, who went without their November salary and may do so again this month.
If they do not receive their December wages it would mean the club are in breach of their employment contract and that players could walk away for nothing next month, provided they give a notice period of 12 days.
That would mean millions of pounds worth of assets could be wiped off in a matter of weeks, ending any chance the club has of avoiding relegation. Likewise, choosing to go into administration would carry an automatic 12-point deduction, leaving Wanderers with an almost-impossible task to catch up.
But the prospect of non-playing staff going without their salary could also raise safety issues, particularly with two home games on the horizon.
Wanderers are due to play Fulham this Saturday and local rivals Blackburn Rovers on December 28 – but with morale at such a low ebb there are no guarantees matchday staff would not look to move on.
Attempts by fans to raise cash for staff have proved successful, with close to £7,000 raised via a JustGiving page.
Things improved on the pitch last night as Bolton earned a battling point at Charlton.
Source
That is the stark reality at the Macron Stadium, where talks have continued with potential buyers over the last 48 hours in a desperate attempt to solve the financial crisis destroying the club.
In order for wages to be processed normally to full and part-time non-playing staff, money will have to be moved into the club’s account today, with payment due on Friday.
Bidders have been speaking with Wanderers in the past couple of days and have spoken confidently behind the scenes about a deal being close – but the indication from the boardroom is that the situation has not progressed satisfactorily and it now looks unlikely that a conclusion will be reached in time for Christmas wages to be paid on time.
It is rapidly becoming a PR disaster for Eddie Davies, who could yet choose to put his hand in his pocket one final time to avoid a complete catastrophe.
Two established parties – believed to be the Sports Shield consortium and a group of Thai investors – are still in active negotiations to buy the club but have not yet satisfied Davies or his financial advisor Trevor Birch with their plan.
Much of the national attention has been focused on non-payment of Neil Lennon’s players, who went without their November salary and may do so again this month.
If they do not receive their December wages it would mean the club are in breach of their employment contract and that players could walk away for nothing next month, provided they give a notice period of 12 days.
That would mean millions of pounds worth of assets could be wiped off in a matter of weeks, ending any chance the club has of avoiding relegation. Likewise, choosing to go into administration would carry an automatic 12-point deduction, leaving Wanderers with an almost-impossible task to catch up.
But the prospect of non-playing staff going without their salary could also raise safety issues, particularly with two home games on the horizon.
Wanderers are due to play Fulham this Saturday and local rivals Blackburn Rovers on December 28 – but with morale at such a low ebb there are no guarantees matchday staff would not look to move on.
Attempts by fans to raise cash for staff have proved successful, with close to £7,000 raised via a JustGiving page.
Things improved on the pitch last night as Bolton earned a battling point at Charlton.
Source
