Gretna file for administration
10 Mar 2008 - 14:51:44
Crisis club Gretna have announced that they intend to move into administration later this week.
The Black & Whites will be able to honour their remaining fixtures this season, but a ten-point penalty will virtually ensure their relegation from the top-flight following last term's promotion.
A statement on the SPL side's official website read: "In 2003, Brooks Mileson became the owner of Gretna Football Club.
"His financing has enabled the club to achieve unprecedented success in Scottish football. However, due to ill heath, he is currently not in a position to facilitate further funding.
"Following a board meeting on Friday 7th March, the directors passed a resolution to place the club into administration and a 'formal notice of intention' was filed in the Court of Session in Edinburgh on Monday morning.
"We anticipate that administrators will be appointed in the next few days."
Gretna won three successive promotions to reach the SPL last year and were beaten Scottish Cup finalists in 2006.