Gretna set for administration
10 Mar 2008 - 11:43:43
Gretna are reportedly set to enter administration following a meltdown in finances at the SPL's bottom club.
The Black & Whites are expected to be able to honour their remaining fixtures this season, but a ten-point penalty will virtually ensure their relegation from the top-flight after a brief one-year stay.
Gretna, whose financial troubles have been compounded following a serious illness to owner Brooks Mileson, are set to go into administration on Monday.
"What's happened over the last four or five years is clubs have been able to apply to the SPL for a loan during the season on the basis the loan is recovered from fees they'd get later on in the season," said league secretary Iain Blair.
"We very much expect Gretna to fulfill their fixtures and be there at the end of the season.
"I can't foresee, given how close we are to the end of the season, a mechanism which would see Gretna go out of business."