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Gretna asks for administration
Scotland - 12 March, 2008
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Scottish Gretna's quick rise in football now has reached a downturn, as the club announced it would go into administration and take a 10-point penalty.
The club has not been able to pay its debt as owner Brooks Mileson has been fighting a brain ailment. The club is an estimated GBP 4 million in debt.
"(Mileson's) financing has enabled the club to achieve unprecedented success in Scottish football," read a statement on the club's Web site. "However, due to ill health, he is currently not in a position to facilitate further funding.
"Following a board meeting on Friday the directors passed a resolution to place the club into administration and a `formal notice of intention' was filed in the Court of Session in Edinburgh. We anticipate administrators will be appointed in the next few days."
The points penalty will go into effect when administrators are appointed. Gretna will be barred from signing any new players.
Gretna built itself from an also-ran ordinary club to one that ripped through the system. The club made the 2006 Scottish Cup finals before losing to Hearts, still qualifying for the UEFA Cup. The club won three titles in a row, breezing through the third and fourth divisions on the way to the Premier League.
The club has not been able to pay its debt as owner Brooks Mileson has been fighting a brain ailment. The club is an estimated GBP 4 million in debt.
"(Mileson's) financing has enabled the club to achieve unprecedented success in Scottish football," read a statement on the club's Web site. "However, due to ill health, he is currently not in a position to facilitate further funding.
"Following a board meeting on Friday the directors passed a resolution to place the club into administration and a `formal notice of intention' was filed in the Court of Session in Edinburgh. We anticipate administrators will be appointed in the next few days."
The points penalty will go into effect when administrators are appointed. Gretna will be barred from signing any new players.
Gretna built itself from an also-ran ordinary club to one that ripped through the system. The club made the 2006 Scottish Cup finals before losing to Hearts, still qualifying for the UEFA Cup. The club won three titles in a row, breezing through the third and fourth divisions on the way to the Premier League.
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