Linnets back from brink?
LINNETS director Michael Chinn has pledged to save the debt-ridden club from being wound up tomorrow – by paying the outstanding tax bill.
With Lynn on the verge of oblivion, Chinn has acquired financial support from an anonymous businessman, who has agreed to pay the outstanding 67,000 in an effort to get the winding-up order against the club rescinded.
If everything goes to plan, Chinn hopes to bring some much-needed stability to the beleaguered club, whose very existence has been in serious jeopardy following the High Court's ruling of six days ago.
Chinn, who has turned his shares back into loan notes, told the Lynn News yesterday: "The tax bill will be paid on Tuesday. The legal side of things is being dealt with as we speak and hopefully the club can now move forward.
"It isn't me paying the tax bill, but a businessman who wishes to remain anonymous at this moment in time. He has assured me that the outstanding amount will be paid.
"We will try to agree a payment plan with some of the other parties we owe money to in an effort to satisfy the High Court.
"The only thing against us at the minute is that the bank are not being very productive and want to reduce our overdraft by some 15,000.
"I have agreed to take the club forward from there, which means me paying the player's wages, two lots of PAYE and also some of the outstanding bills in December.
"As far as the club is concerned I will be the biggest creditor, having invested almost 300,000, and I will decide what happens from here. The board will be dissolved but Ken (Bobbins) will remain as chairman and Tim (Coates) as vice-chairman.
"There's no point having a board of directors until we get another three or four investors to come in."
Chinn challenged any possible new investors to get in touch with him.
"If people want to invest in the club and are serious about seeing it move forward, then I suggest that they contact me personally," said Chinn, who revealed that the club are still in discussions with two possible new backers.
"I'd be willing to hand the football club over tomorrow if one of the guys we've been talking to comes in. He's got more money than what I've ever had and has already put millions into football."
Chinn also confirmed that the club held positive talks with West Norfolk Council on Friday.
"The council can't give us cash, but they have given us assurances that all of the remaining work at the ground will be competed by the end of April and I'm waiting for them to confirm that in writing," said Chinn.
"That means if we did happen to get promoted then we can go up. Like I said last week, I wasn't prepared to throw any more money at the club unless the work on the ground was done."
Linnets manager Carl Heggs confirmed yesterday that Chinn is due to meet up with his playing squad at training tonight.
Heggs said: "I would like to take the opportunity at this difficult time to thank both Michael Chinn and Ken Bobbins, who have been doing everything possible to try and save the football club.
"It has been a difficult and upsetting time for everyone connected with the club, which has been made even harder for the players and myself by the lack of information I have been receiving.
"Michael has agreed to pay the the tax bill and has told me that he will come and address the players at training tonight."
On his own future at the club, Heggs said: "I'm sure today will be the sword that breaks the camel's back one way or the other, but I have remained loyal to my players, King's Lynn as a place and the fans.
"When we only won one of our first six games, 99 per cent of the fans remained behind me and I owe being loyal to them for the loyalty they showed in me."
Heggs also dispelled rumours in other media circles than on-loan striker Kwesi Appiah was the first playing casualty of Lynn's recent financial upheavel.
"Kwesi has promised me that he will wait until the end of Tuesday before he makes any decision on his future, as has Lethaniel Rowe-Turner."
Email to a friend
Print this page - Popular
- Most comments
- Most shared
Looking for...
Featured advertisers
Local pages
Looking for a...
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Kings Lynn
Sunday 01 August 2010
Today
Light showers
Temperature: 11 C to 20 C
Wind Speed: 9 mph
Wind direction: West
