Walsall were owed £15,000 by LDV for reaching the LDV Southern Area Semi Final, a competition that Walsaa were knocked out of by Swansea City in a penaltly shoot out. All prize money has now been cancelled. The four remaining teams will now battle it out to reach the money spinning final. Although no prize money will be awarded, the teams who reach the final will get their share of the final gate recipts for a match hosted at the Millenium Stadium. Only this will make their progression through the rounds worthwhile.
This is the second time in recent years that a Football League negotiated sponsor has gone into administration. After the ITV digital fiasco the football league need to vet their potential sponsors with higher scrutany.
Walsall also lannounced they have lost out on the £12,000 owed to them by Heathland who sponsored the away stand that faces the M6. Heathland beat off competition from two other business's for the naming rights of the stand. Also to cap off a poor week Walsall also announced that a conference group have failed to pay the £3000 they owe the club.
These debts might be of small value when you consider Walsall reported debts of £1.7 million at the end of the last financial year, but the news will come as a blow. The £30,000 lost this week has all come from other busniess's failing to honour their financial commitments, but it is Walsall who are unjustly the losers.