Millers face more trouble
18 Feb 2008 - 14:33:44
The board of League Two Rotherham United have confirmed that the club will be forced into administration if they cannot find new investment in the near future.
The Millers board have revealed that talks with several potential investors have stalled, leaving them close to the point where the club will have to go into administration for the second time in less than two years.
A statement on the club's official website read: "We remain hopeful that investment can still be found and the fact that a new stadium is now in reach does make the club a far more attractive proposition for would-be investors.
"But that is still some way off and in the meantime we are conscious of the need to protect the club from any possible action from any of its creditors.
"In order to combat this, we have therefore filed a notice of intention to appoint an administrator. This does not mean the club is in administration or even that it will necessarily go into administration.
"Instead it protects the club from possible hostile actions at a time when the club needs to be fully focussed on finding new investment.
"Clearly the threat of administration will recede if a serious investor can now be found.
"However, if no deal can be brokered then administration would be the only option for the club and that would be a great shame as it would mean a points deduction."