Date:Friday July 31 2009
Vital Burnley reported recently that Administrators of Brendan Flood's property firm Modus Ventures Ltd were trying to recover £3.7m of loans they claim are owed to the company by Burnley FC.
You can read the background again by linking to this article:
Administrators' Modus Operandi Affects Burnley FC
The local Lancashire Telegraph today reports a response from the Club about the situation.
A spokesman for Burnley FC has reassured fans that the repayment will not affect the club`s financial plans for the future and that any money paid back would have no impact on transfer policy or funds available to manager Owen Coyle.
The spokesman went on to say:
"A formal loan agreement is in place between Modus Ventures Limited and the football club. This was only repayable if the club gained promotion to the Premier League and the club has made financial planning for the repayment of the loan."
The administrators, KMPG have said the monies are expected to be received on August 5, 2009 but the club will not make any comment on the amount of the loan to be repaid nor in what context the loan was made and when it was taken out.
Vital Burnley wish to thank Burnley Football Club for the use of the photograph
Date:Friday July 31 2009
Saints and JayRod in FA Cup Clash! (Sunday December 8 2013)
Tykes There for Taking at Turf! (Thursday December 5 2013)
Clarets drop to 3rd after disappointing home draw (Wednesday December 4 2013)
Taking Away the Hornets Sting? (Monday December 2 2013)
Just the Ticket-Coyleless Wigan in the DW (Monday December 2 2013)
Burnley Wobble in Huddersfield! (Monday December 2 2013)
Just the Ticket-Down by the Riverside! (Monday December 2 2013)
Burnley X-Files-Coyle Goes, Cotts for Bristol? (Monday December 2 2013)
Rumour Mill-Burnley in Driver Seat Again? (Thursday November 28 2013)
Hudds Up! (Thursday November 28 2013)
|3. Leicester City||19||12||2||5||+10||38|
|4. Derby County||19||10||4||5||+14||34|
|Royals drawn away in FA Cup
» Reading : 09/12/2013 10:00:00
|DJ Arrested In Match Fixing Probe
» Q.P.R. : 09/12/2013 09:34:00
|Home draw for the Cherries
» Bournemouth : 09/12/2013 08:46:00
|DJ Campbell arrested in spot fixing investigation
» Blackburn : 09/12/2013 08:34:00
|Gerken Knew Which Wat To Go
» Ipswich : 09/12/2013 08:00:00
|LUFC On This Day - December 9th
» Leeds Utd : 09/12/2013 07:22:00
|Owls to face Macclesfield in FA Cup
» Sheff Wed : 08/12/2013 22:40:00