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As reported by the BBC.
Was expecting a "Ladies go down" subject line.
Not sure how I feel about it - not something I ever felt connected with and was never sure of the point of bring the Lincoln Ladies to Nottingham other than an ego trip.
Sad to see them go, but it's hard to dispute the reasoning from Hardy.
£28k income with a £500k outgoing there was only one option. It's a shame really as it was a nice string to the bow but just not financially viable anymore. I'm guessing most the FA sponsors that were around at the time Trew took them on have since moved out of ladies football.
Terrible news I went to watch a few games and was impressed with the standard. This really is the fault of Trew but no doubt his fan club will be on here later to tell us otherwise.
Notts County Football Club have released the following statement.
Alan Hardy has reluctantly admitted defeat in his bid to save Notts County Ladies Football Club after facing a near-£1million bill to keep the club afloat this season.
The Notts County chairman and owner had hoped to restructure six-figure HMRC debts inherited from Ray Trew and fund ongoing projected losses this season of half a million pounds.
Despite interest from two Premier League sides to take over the business as a going concern and to protect the players and staff, the FA would not sanction the transfer of licence to safeguard the future of the club under a new ownership structure.
And, despite weeks of negotiations with lawyers, HMRC and the FA, Hardy has now called time on his plans to save the Ladies set-up.
The club has today been officially withdrawn from the Women's Super League and will play no matches in the Spring Series, including this Sunday’s away fixture at Arsenal.
Hardy said today: “I am devastated that we cannot continue the Ladies project but the numbers simply do not stack up. Continuing would have been little short of financial suicide.
"I wish to be totally transparent with supporters about the sums of money involved here. When I took over the club, HMRC and other creditors had in excess of £350,000 of unpaid liabilities.
"Additionally, I was extremely concerned that to operate Notts County Ladies for the current season was going to cost us approximately £500,000 - a figure principally made up of player and coaching salaries. Our total projected incoming revenue from attendances and sponsorship was £28,000.
"I have been tremendously impressed by the passion and enthusiasm shown by everyone connected with the Ladies set-up - manager, players and backroom team. They have represented Notts County with dignity, success and the utmost professionalism over the past three seasons. But the fact remains we simply cannot fund such a huge operating loss.
"I was also concerned that we had no real pathway for young players in Nottingham to graduate through the ranks into a WSL team.
"The existing structure is such that we have a strong elite-level team, but no academy pathway of progression through age-group teams.
“I met many times with the FA with a view to being granted RTC (Regional Talent Centre) status but realistically it would have taken more than two years to become accredited.
"It's a very sad day for me personally and supporters should rest assured I have left no stone unturned in my quest to save the club.
“However, having taken all factors into consideration, the only possible outcome is to discontinue our Ladies club.
“I would like to place on record my sincere thanks to the staff and players and we all wish them every success in finding new clubs.”
The club will be making no further comment at this time.
Read more at http://www.nottscountyfc.co.uk/news/...Cwd2vrmmeqq.99
Sad for everyone involved.
Hardy's statement is a real eye-opener though - £350k debt and a yearly deficit of almost half a mill?? Don't we have one of the larger attendances in the league? How is the lady's game ever going to get off the ground as a professional sport with those sorts of figures?
With the menís team losing £1.6m a year and AH not having bottomless pockets, it seems like heís taken notice of his financial advisers this time, unlike when he bought the club. To continue with the Lady Pies would have taken our combined annual losses to over £2m.
It says on the OS:
ďDespite interest from two Premier League sides to take over the business as a going concern and to protect the players and staff, the FA would not sanction the transfer of licence to safeguard the future of the club under a new ownership structure.Ē
Must be very worrying for the players and staff, as the WSL transfer window has closed, so presumably they will not be able to sign for anyone else this season?
It was only a month ago that AH was tweeting:
Come & see us @Official_NCLFC. We're shortly about to launch a massive girls football initiative as pathway to our Woman's Super League team
He'll get some flack for leading many to believe it was in safe hands and not sticking to what appeared to be his word.
Will any of them be sold off?
Not defending RT in any way, but he must have put a lot of money in to the Ladies team.
There are suggestions on twitter that the players were not informed and found out from the media.
Iíve no idea whether this is true or not. If it is, itís not the way to treat staff.
Trew is partially responsible for chasing rainbows and mis managing the finances again. However, The FA need to take their share of the blame. It isn't and probably never will be a Full Time professional sport if it has to stand on it's own two feet. Yes, the big clubs may have the finances to prop up ladies teams but NCFC does not. By NCFC mean AH. As it would be him paying the bill. I'm grateful for his input into the Men's team and if dissolution of the Ladies team provides more security for NCFC I'm happy. I've just read a comment from a Notts player saying she's now Jobless and Homeless. This is life for lower league footballers, it is a very precarious occupation.