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In a statement made by Rotherham United chairman Peter Ruchniewicz is quoted as saying: "We are sorry to have to tell you that the club's financial position has entered a critical phase and there is the very real prospect that the club will be advised to cease trading within the next few weeks unless within that time we can find credible individuals with sufficient savings additional funding to take it forward. Heaven forbid, but if the club does cease trading it is likely to go straight into liquidation - it seems unlikely it could go into a formal administration given its limited resources and the level of funds and assets required. This would mean that the club would go out of existence, a thought too dreadful for any of us to contemplate but nevertheless a very real possibility".
With no possibility of administration this means that all Rotherhams games this season will be voided. This means Walsall will lose 6 points. If you take away the points from other teams games against Rotherham, Walsall are the biggest losers (after Rotherham of course!!). Walsall would fall to 22nd out of 23 clubs!!
Their official web site reports that the Yorkshire side are loosing an incredible £140,000 a month and need £1m NOW to ensure survival until the end of the current League season and at least another £1m to be able to play next season.
The club has set up the 'Save Our Millers' campaign, with the '£10 to play again' and '£25 to stay alive' schemes. A description of the campaign is available at http://www.rotherhamunited-mad.co.uk/news/loadnews.asp?cid=TMNW&id=266482
Rotherhams financial position has not been helped by the ongoing dispute with Southend over the transfer of Jamal Campbell-Ryce has so far reduced cash flow by more than £125,000. Also with the stand re-development this season this has reduced gate recipts. But surely the management must have been aware of both these factors!!? Well certainly the stand re-development but maybe not the sale of Campbell-Ryce. After the sale of their biggest player asset, Southend have declared they cant afford the transfer fee!! Surely the player should be sent back then or a transfer embargo placed upon Southend?
A link to the official site shows the real extent of the problems faced http://www.themillers.premiumtv.co.uk/page/News/NewsDetail/0,,10360~780668,00.html?ptvParm=