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Fan takeover at Chesterfield in doubt

A takeover of Chesterfield by fans has stalled, although owner Dave Allen wants it to go ahead. The accounts for the year to 30 June 2019 revealed a loss of £1.85m compared with £1.06m the previous year. Turnover was down by £1.9m on the previous year, reflecting the effects of relegation. However, over £1m was raised in player transfer fees in 2017/18. (The accounts don't appear to be available online at Companies House yet, but it often takes about five days after submission).

The Chesterfield Community Trust entered into a period of exclusivity with Allen at the end of December, but this has not been renewed and other bids can now be made. Allen is continuing to put in £150k a month to keep the club going, although this month it will be £200k. You need deep pockets to own even a National League club.

Loans owed to Allen at the year end amounted to £9.3m, compared to £7.1m the previous year.

I am sceptical about the fan ownership model, not because it's a case of the lunatics running the asylum: generally people with a range of relevant professional skills step forward and offer their services for little or nothing. It is just what is needed to cover losses which is beyond the means of the reasonably prosperous (asset millionaires are now two a penny, but they are often not very liquid).

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