League Two Administration

I'm not sure but if we left Edin to it he wouldn't have fallen far short.

 

£31m in debt!!

https://fanbanter.co.uk/league-two-club-allegedly-put-into-administration-with-points-to-be-deducted/

 

But a majority of it isn’t due in next 12 months and is to their owner. Would be strange for the owners to go for administration so must be a small debt which I would think the owners would cover.

 

They only lost £1.8m last year so £30m would be 16 years at that level of loss unless they spent big on the ground or something?

 

They have denied it

https://www.gazette-news.co.uk/sport/19219790.colchester-united-chairman-robbie-cowling-rejects-rumours/

 

Ive been a number of times as I didn’t live all that far away. I’ve posted this multiple times I know but the ground is literally in the middle of nowhere and a trek from the Town centre.( 45 min walk to the station!) Built I suppose because of its proximity to the A12. It’s surrounded by car dealers and tin shed industrial units, and no doubts housing estates , if not now but in the future.
It is now called the Job serve stadium, but it was originally called the Weston Homes stadium.( Major house builders and developers in Essex.


Alongside a loan secured by Colchester Borough Council other funding that helped to bring the project to life was received from the East of England Development Agency, the Department of Communities and Local Government and the Football Foundation's Football Stadia Improvement Fund.

Colchester Community Stadium is owned by the Council, the total construction cost was £15.4m of which Colchester Borough Council contributed £10m As it’s a Borough asset I suggest they would want a return on their investment so rent won’t be cheap. (See below for rental information)

Sadly it’s downfall imho is that it is so far from the community it is supposed to serve!

A piece written by local press 4 years ago

JobServe has signed a 10-year deal with the club, through which the Colchester Community Stadium will become known as the JobServe Community Stadium. Building firm Weston Homes was the previous sponsor of the 10,000-seat stadium.

JobServe was founded by club chairman Robbie Cowling and John Witney in 1994.

Cowling said: “JobServe have been involved in sponsoring Colchester United for even longer than I have been the owner of the club, but we recognise that the stadium is much more than just a venue for football matches and we want to be involved in all aspects of what the stadium can offer.

“The new sponsorship deal is a great new deal for Colchester United, especially now the club’s rent payments have changed to being a percentage of the gate receipts.

“JobServe have agreed to pay sponsorship that will be equal to the club’s new rent meaning that the club can effectively enjoy their wonderful stadium rent free.


RENT FREE FOR THE LAST 4 YEARS.

What are they doing?

 

Only way it could be Colchester is if it is a minor debt that has been overlooked and the debtor has gone to court but it will get cleared before it gets to the court hearing

 

They invested in their academy structure years ago. It seems to do them little good? Hence debt irrespective of its to?

“

Contents


HistoryEdit

Under Colchester United chairman Robbie Cowling's stewardship, the club put forward a planning application for a nine-hectare site for a new training ground based in the nearby village of Tiptree in 2009. Planning permission was granted in 2010 for the centre which cost £3.5 million. It was built to house a new academy and provide training facilities for all teams within the club.[1]

Under the new Elite Player Performance Plan development scheme, Colchester United were first granted Category Two status for their academy in July 2012. The new system allowed greater contact time between the young players within the academy and the club's coaching staff.[2] However, in August 2013, the club fell short of the required standard set by the EPPP by three percent,[3] but the club secured Category Two status once more in June 2014 after operating with an increased academy budget during the 2013–14 season.[4] During the 2013–14 season, the Colchester United under-18 side secured a league and cup double by winning the Football League Youth Alliance South East division and the national Youth Alliance Cup.[5][6]

 

Yes he would say that?

 

Jobserve can’t have done much recruiting over the last year?