Farsley Celtic Closed Down

cardboardbox?Youwerelucky · Posted: Fri Sep 04, 2009 1:56 pm Post subject: Farsley Celtic Closed Down

Sad day for the community that side of Leeds

http://news.bbc.co.uk/sport1/hi/football/eng_conf/8238570.stm

Farsley Celtic go out of business

Farsley Celtic have been closed down by their administrators, who failed to find any new backers for the Blue Square North club.

Celtic entered administration at the end of June because of mounting debts including a £200,000 tax bill.

Administrators Mazars said the failure of a consortium to buy the club back left them no alternative but to lock-up Throstle Nest and close the club.

The West Yorkshire club celebrated their centenary year in 2008.

Farsley got into financial trouble after selling a portion of their Throstle Nest ground but, as a result of the recession, have not been paid in full.

They avoided a winding-up order by HM Revenue & Customs over unpaid taxes by going into administration on 1 July, but faced the prospect of having no league to play in after the Football Conference deemed them ineligible to play in the Blue Square North because of the financial problems.

I don't think anybody was under any illusion that the club wasn't in a perilous financial position

But a reprieve saw them start the season on minus 10 points, a deficit wiped out on the pitch during the first six games of the season as negotiations to find a buyer continued behind the scenes.

Robert Adamson, joint administrator and partner at Mazars, said there had been lengthy talks to try and save the club.

"Since Farsley went into administration we have held extensive discussions with a number of interested parties with the aim of selling the the club, working extremely hard to try and secure the best deal possible for both the creditors and the club," he said.

"We have been very appreciative of the continued full support of the board of directors, who from the start of the season have also assisted in ensuring that the ongoing trading costs were met each week.

"However, following the withdrawal of the consortiums offer, no viable alternatives remain and there is no-one prepared to continue to underwrite the trading costs. Very sadly, the only option now is to close the club."

Supporters Club spokesman Phil Morris told BBC Radio Leeds the loss of the club would leave a big hole in the local community.

"We're all a little bit stunned at the speed at which this has happened," he said.

"I don't think anybody was under any illusion that the club wasn't in a perilous financial position. (President) John Palmer has worked extremely hard in the hope of securing the club financially but unfortunately it wasn't to be.

"He above all others I suspect is the most devastated of the lot. He's absolutely heartbroken."

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wewantourdarbyback · Posted: Fri Sep 04, 2009 3:53 pm Post subject:

I liked Farsley a lot, nice club.

Shouldn't happen to any team other than the Franchise.

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raveydavey · Posted: Fri Sep 04, 2009 6:01 pm Post subject:

Rejoice!

Radio Leeds reports that Farsley Celtic are saved!

A new backer has come forward, tomorrows game will go ahead and the best named manager (in relation to his club name) is still employed!

http://www.yorkshirepost.co.uk/fo...ltic-saved-at-eleventh.5619499.jp

FARSLEY CELTIC were yesterday dramatically saved from extinction following a whirlwind 24 hours.
The club were wound up late on Thursday night after talks with a consortium led by club president John Palmer fell through.

Players and officials were told to gather their belongings and leave the club's ground Throstle Nest which was then going to be sold by the administrator.

But yesterday afternoon Mr Palmer returned with a fresh bid backed by his son Steven and two other parties who at present wish to remain nameless. At 4.15pm Mr Palmer and his solicitor, together with the administrators Mazars, faxed through notification to the Football Association and the Conference League that a deal had been made to rescue the club from closure.

Tomorrow's game with Stalybridge Celtic is now back on.

Elated manager Neil Parsley last night said: "I'm relieved it's all over. It's been turmoil. This has been dragging on for all of the 12 months I have been manager and for the two years I spent at the club before that.

"Hopefully a line has now been drawn under all of this.

"I'd just like to pay credit to the players. Every single one of them has made themselves available to play against Stalybridge."

A statement from Mazars read: "An agreement has been signed wherein the proposed purchaser meets the ongoing trading expenses to allow further dialogue next week with a view to an eventual sale."

Robert Adamson, joint administrator and partner at the Leeds office of Mazars said: "I received a call from the interested party at 3.15pm (Friday) afternoon. The Football Conference had set a deadline of 4pm for us to officially confirm Farsley's fate.

"We are very grateful that they extended the deadline to accommodate this eleventh-hour deal and allow the transfer of funds and the signing of the relevant contracts.

"The offer came out of the blue but buys us time to continue negotiations to secure the club's future."

Andrew Walker, insolvency partner at law firm Irwin Mitchell in Leeds, who advised the administrators and has worked on a number of football administrations, said: "I am pleased I have been able to assist the administrator in his hard work and endeauvours to ensure the survival of football at a long established club.

"We have literally got an agreement at the eleventh hour which we hope will guarantee that football will continue to be played at Throstle Nest and this will help the club and its fans go on to future success."
Farsley Celtic is over 100 years old and enjoyed a meteoric rise to the Conference in 2007.

They were served with a winding-up order by the taxman in June over an unpaid bill believed to be in the region of £200,000 and started the season with a 10-point deduction.

They have already begun the fight back on the pitch, winning three and drawing one of their games to get to zero points.

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halfaperson · David Batty Joined: 13 Jun 2007 Posts: 1157

Im pleased they are getting another chance. They soured themselves a bit when we were in free fall and they tried to capitalise on it. Do you remember ? Banging on about how they were the top club in Leeds and were going to call themselves Leeds Celtic or something just as disgusting.

Not that im bitter, good luck to them but a little bit of me is saying hah !

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