ibroxgers25 18 Posted June 11, 2011 Share Posted June 11, 2011 The Northamptonshire club face a winding up order and also a potential slide down football's lower leagues, ahead of a hearing on Monday to decide their futureRushden & Diamonds have been thrown out of the Conference Premier for failing to pay creditors and face a winding-up petition on Monday.The club were fined £2,000 and docked five points earlier in the season and although they successfully avoided relegation, their precarious financial position has now seen them expelled from the division.Chief executive Steve Beasant told the club's official website: "The primary reason why we've been expelled is because of the financial issues with the winding-up petition."Diamond’s expulsion means that relegated Southport will remain in the league.The club had been linked with a consortium headed by Glenn Hoddle although Beasant concedes that time ran out with regards to securing investment."We've had two investment consortiums show interest in taking over the club and injecting money," he told BBC Radio Northampton."We needed more time to get that interest confirmed. We've got a business model and we had investors but the conditions put on us by the Conference made the deal impossible."On Monday 13th June we will be seeking adjournment of petition based upon pending investment which is in the best interests of all creditors and club, this is now putting the club at risk of liquidation should an order not be granted & is due solely to the League's action."The priority is to make sure that the club isn't wound up on Monday."http://www.goal.com/en-gb/news/2880/england/2011/06/11/2527982/rushden-diamonds-expelled-from-conference-premiershame for the club Link to post Share on other sites More sharing options...
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