Truro City owe nearly 4 Million!!

[cornish seagull]

Just heard this on Local radio station and am absolutely staggered that such a small club can owe so much. Average att 350, pop of Truro 20,000, present status Conference South. Latest is that the ground was sold before administrators came in but to who is unclear. How can this be possible?

 

[Butch Willykins]

Maybe they took out a Wonga loan?

 

[Hove Seagull]

Maybe they took out a Wonga loan?

Even so, they would need to be at least three days late paying it back to be that much in debt.

 

[ditchy]

How can individual directors be owed more than a million each , something very wrong at that club !

 

[element]

'Football club living above its means' (non) shocker

 

[GreersElbow]

Directors could putting through expenses as 'paid personally'. Therefore makes them creditors to the club, their director loan account would be in credit and make it appear they are owed money. Any money obviously has to go to creditors, and therefore they milk the money.

 

[Camicus]

Thats £200 for every person in Truro. Blimey