ROTHERHAM FINDS BUYER, AVOIDS LIQUIDATION

Adjust font size:

A consortium of local businessman bought the League One club, ensuring its survival through next season. Its supporters trust (RUST) had recently given the club a donation of GBP 60,000that kept it running through the end of March. The club was told it needed to find a financial solution at the end of the month to avoid liquidation. In stepped Dennis Coleman, a local property consultant, and local Italian restaurant owner Dino Maccio.

In a statement released on the club’s website, Coleman said: “Our main aim is to ensure that Rotherham United are playing league football at Millmoor next season. I do not want Rotherham to be known as the town that lost its football club.”

Coleman recognized the club’s previous board of directors for pushing ahead with a plan to build a new stand at the club’s stadium, Millmoor, saying the stand “will provide an opportunity for the club to attract new income streams when they are most needed.”

Peter Ruchniewicz was relieved that the club’s financial crisis has been resolved and said the new ownership group impressed him. They are prepared to pick up the difficult situation and run with it. They have put together a strong team including
advisers with experience of helping other clubs who have been in financial trouble.”

While the new investors provide some financial stability, Coleman and the supporters know more funds are needed to ensure the club’s long-term future.

“For the time being it is important that the fund-raising continues…we have had a wake-up call. We do not want to get caught again. To this end the new board intends to continue consultations with RUST,” Coleman said.

Mark Hitchens, chairman of RUST, told The League Paper: “We haven’t got a big sugar –daddy coming in so let’s hope they can get some more backers.”