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Takeover update

20 February 2016

Statement from board on club's financial position ahead of proposed takeover

The Board of Crawley Town FC would like to place on record its current financial position to clear up any misunderstanding that has circulated in the last few days, particularly in the European media.


When the proposed takeover is completed, which will hopefully be next week, Crawley Town Football Club will be handed over to its new Turkish owner in a stable financial condition and in much better financial health than it was six years ago, before our promotion into the Football League, when it carried big debts including unpaid VAT bills.


Chief Executive Michael Dunford said: “When we leave the club it will be in a sound financial position. Speculation in the press in Europe that we have debts of £2.5m are simply not true.


“It was important when we complete the sale of the club that we give the new owner a fresh slate. Our creditor debt is less than £170,000 which is normal for a club of our size.


“No shareholder, director or benefactor will have any loans left on the books at the point of handover. 

"There will also be no bank debt or overdrafts and no long-term player contracts as only three of our squad are currently contracted beyond the end of this season.


 “The new owner will also benefit next season from receiving an increase in central payments from the Football League of approaching £200,000.


“This is almost the same sum as Paul Hayward, the Bangkok based businessman who is our principal benefactor, had committed to make by way of donations in the current financial year.”

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