Dover must find £23,000 by end of the month

THE MEDIA have been focusing on a meeting scheduled for Monday 6th September 2004 at the office of Thornton Rones, who act as Supervisor for Dover Athletic's Creditors Voluntary Arrangement (CVA), writes Simon Harris.

The meeting's purpose is to vote on a proposal to vary the CVA such that the Club would not have to pay over a proportion of the profits gained on the successful 2002/3 FA Cup run. That amount involved here is c.£23,000.

While the Club has made good its commitment to the payments of £3,000 per month, this special clause (known as Modification 5) was designed to accelerate the CVA and bring its conclusion earlier than the 5 years planned.

One of the Club's Creditors highlighted the obligation, as they were entitled, and the appropriate notices have been issued. Under the voting rules, we know that the votes already cast will almost certainly prevent the Variation being approved.

As such, following Monday's meeting, the Supervisor will inform the Club that it will be required to make good its obligation under Modification 5 almost certainly requiring that Dover Athletic find £23,000 by the end of September.

Speculation that Monday's meeting is set to bring about the winding up of the Club is, therefore, unfounded although it is equally clear that the ramifications are such that the demise could happen eventually.

Those who feel surprise at this revelation should recall Chairman Mick Kemp's statement following the Stafford Rangers match in May, openly seeking £30,000 of which the Trust were the only contributor magnificently raising £8,000 in June.

The meeting referred to above has taken place and, regrettably, has had the expected result. We have to find £23,000.

Please note that the board of DAFC has 3 members, one of which is the Trust nominated Director, and another of which is a former member of the Trust Board. The third member (and Chairman) is a local businessman. None of these individuals have any money themselves and simply give up a lot of time and effort to work on the club’s behalf. The Supporters’ Trust is the sole regular contributor to fundraising and now holds approximately 30% of the club's shares. We have no difficulties whatsoever between the Trust and the Club Boards.

The reason that the money from the FA Cup run was not put to the CVA was simply because we would not have reached the end of the 2002/3 season without those funds.

These monies are not, and never will be, additional to the amount payable under the CVA. They only serve to ‘speed up’ the payment to the creditors.

In the overall scheme of football, this amount is, of course, a fraction of Wayne Rooney’s weekly pay packet, but our club will fold for the lack of it.

On Saturday 18th September, Dover Athletic will play AFC Wimbledon in the FA Cup. We would like to either arrange another “Fans United” day or find some other way of getting fans to attend this game specifically, so that a bumper crowd can help us in our aim of raising the funds needed to keep then club afloat.

Simon Harris
Chairman – Dover Athletic Supporters’ Trust