Yeltz on the brink (From Halesowen News)

Yeltz on the brink

9:56am Thursday 9th July 2009

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HALESOWEN Town stand on the brink of administration with supporters claiming the club is more than £250,000 in debt.

Supporters' group The Yeltz Trust, set up to safeguard the future of the Old Hawne Lane club, is threatening to take the club into administration after claiming it has received worrying information on the true extent of the problems at the Grove.

In January it was revealed the club were more than £15,000 in debt but the Trust now says the Yeltz owe creditors more than 16 times that figure.

In a statement, Trust vice-chairman Gary Willetts said it had now acquired the support of enough Yeltz shareholders to enforce administration if necessary.

He said: “The Directors of The Yeltz Trust understand from information they have received that currently Halesowen Town Football Club Ltd owes creditors a sum in excess of £250,000.

“Unless the club has the means to source a huge capital injection or the club has an alternative plan, it appears on paper to be in a situation where administration is the only viable option.

“If that should happen the Yeltz Trust is committed to working with the administrators to secure breathing space and allow plans to be put in place to ensure the future of football at the Grove for future seasons.

“The Trust has secured the support of 51 per cent of the shareholders and is prepared to take the club into administration if necessary.”

The Yeltz are currently less than 48 hours from their second FA suspension in three months. A ban from all fixtures will be enforced if the Yeltz fail to pay off football creditors - a former player and two clubs - by midnight tomorrow (Friday).

The FA has already imposed a registration embargo preventing the club from signing players or extending existing contracts.

For more on the crisis at the Grove click here

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