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Last Updated: Thursday, 17 March, 2005, 22:46 GMT
Cash-strapped Oldham on brink
National League One side Oldham could go out of business after entering a creditors' voluntary agreement.

The club owes 180,000 in unpaid taxes, with total debts of 325,000, and its fate could be settled at a creditors' meeting in Manchester on Tuesday.

"We had an arrangement with the Inland Revenue to pay off arrears," said a statement from the club.

"It was when they were unprepared to give us more time that we took steps to protect ourselves against winding-up."

London Broncos recently went into liquidation with debts of over 3m and were only allowed to play on after Super League clubs decided to allow a new, debt-free company, to take over the running of the club.

It is not the first time Oldham fans have faced the prospect of losing their club.

Oldham Bears were wound up with debts of over 2m seven-and-a-half years ago.

The Rugby Football League has recently changes its rules regarding CVAs.

Any club now entering such an agreement must leave it before the end of the season or face automatic relegation.


SEE ALSO
Broncos back from the brink
04 Mar 05 |  London
Mercer appointed as Oldham chief
22 Oct 04 |  Rugby League


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