BBC News | SCOTLAND | Archibald comes to Airdrie's rescue

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Sunday, 6 February, 2000, 14:48 GMT

Archibald comes to Airdrie's rescue

Former Scotland international Steve Archibald is to make a Ł3m bid to save First Division football club Airdrie from financial ruin.

Provisional liquidators were called into the Lanarkshire club this week after mounting debts became too much to handle.

I see Airdrie as a sound business investment, but I also see it as the ideal opportunity to get the club moving on the football front
Steve Archibald

Problems came to a head when it was revealed that Rangers chairman David Murray had arrested the club's share of the gate receipts for Sunday's Scottish Cup tie at Dundee United.

Mr Murray applied for an interdict, on behalf of his company Carnegie, for a debt of around Ł30,000 owed by Airdrie.

Archibald, who in his heyday played for Aberdeen, Spurs and Barcelona, says that if his rescue bid is successful he will use his contacts in Europe and South America to find new players. Steve Archibald

He added: "I see Airdrie as a sound business investment, but I also see it as the ideal opportunity to get the club moving on the football front.

"The Shyberry Stadium is the best outside the Premier and I want to see the team back in the top flight where they belong.

"If I had to put a figure on my investment, solely in terms of finance, it would be around the Ł3million mark."

"I want to see quality players at Airdrie - and I have a few lined up if my package is accepted."

Provisional liquidator, Blair Nimmo, who is head of KPMG Corporate Recovery in Scotland, said he was delighted Archibald had shown an interest.

"It is probably advisable that we sit down with him some time in the middle of next week and we will discuss what his intentions are," Mr Nimmo said on Friday

But if Archibald is serious about ploughing in cash, the constitution of the club has to be changed so that private investors can take a major role.

Up until now, no Airdrie shareholder has been allowed to own more than 10% of the shares.

An extraordinary general meeting is due to take place on Monday to instigate the change.

Airdrie - lying second bottom in the division - were at the centre of recent takeover speculation amid reports that Motherwell chairman John Boyle wanted to acquire the Diamonds and create a bigger Lanarkshire club.

Related to this story:
Hope remains for struggling Airdrie (02 Feb 00 | Scotland)
Clubs play down merger speculation (19 Jan 00 | Scottish Premier)
Motherwell chief poised for Airdrie swoop (19 Jan 00 | Scottish Premier)

Internet Links: Airdrie FC Airdrie in crisis - BBC Sport Online Scottish Football League
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