Millers release statement regarding Administration
Last updated : 18 March 2008 By Bigrich.....
A statement has just been released on the club official website which explains the situation.
The statement is as follows:-
After previously filing two notices of intention to appoint an administrator, the board of directors regret to announce that Rotherham United FC have today entered into administration. This unfortunately means the Club will suffer a 10 point deduction by the Football League.
Contrary to popular misconception and recent press reports, delaying the administration until 27 March will not allow the Club to postpone a 10 point penalty until next season. The date of 27 March would only be relevant if the Club was definitely going to be relegated.
The board reluctantly took the view that in light of the Club's escalating liabilities and lack of new investment, administration was a necessary step in order to ensure a safe future for the Club.
Jeremy Bleazard of insolvency specialists XL Business Solutions has been appointed to run the Club during administration with a view to its sale. He will be doing all he possibly can to find interested parties and prospective buyers for the Club.
He said: "Administration will give the Club breathing space and the opportunity to restructure its finances. We are hopeful that in the long run we can save this historic Club. We need people to come forward immediately.
The survival of the Club depends on finding a purchaser. Any interested parties will have to go through a sales process which involves signing a confidentiality agreement and proving funds.
Chairman Denis Coleman said: "This is a sad day for the Club but we are hopeful that, by working closely with the administrators, the Club can live to fight another day. It is important that the fans continue to rally around the Club and get behind the team as we have a big game coming up against Bradford and are desperate to make it back into the play off places despite the 10 point deduction".
