Hereford United latest: CVA proposal reveals Bulls' financial woe

Hereford United latest: CVA proposal reveals Bulls' financial woe

Hereford United latest: CVA proposal reveals Bulls' financial woe

First published in News
Last updated
Hereford Times: Photograph of the Author by , Reporter

FOR the first time details have this week been released showing the huge list of creditors owed money by Hereford United.

They include payments running into tens of thousands of pounds to groups including Herefordshire Council and a global law firm amid a creditor list totalling £1.4 million.

At the other end of the scale, the club owes £5.92 to Jewson Ltd, £12.60 to Merseyside-based MAPP Vending Ltd and £55.40 to Leominster's Springfield Poultry.

Some payments have, however, been made in the past week to football creditors.

The details were published in the club's proposed CVA (Company Voluntary Arrangement) which will come back before the High Court in September after a winding up order on Monday was adjourned.

The 55-page document was drawn up in the names of club directors John Edwards, Philip Gambrill and Elke Thuerlings.

In introducing the idea, which would, if approved, see United's creditors paid in full over a three-year period beginning in September, the directors say the move would preserve the company.

The proposal also sheds light on Tommy Agombar's takeover of the club, claiming he wanted to be a football director "like several of his friends".

"(He) realised that this was an opportunity to become one and gain all the personal recognition that he believed came with it," the proposal says.

"During negotiations to buy the shares the person representing the main two shareholders received a telephone call (part of which Mr Agombar overheard) telling him not to mention the leases and possible planning permission.

"Mr Agombar asked for details, and he was told that the previous directors had been looking at building flats and a hotel at the two ends of the pitch.

"This was the first time Mr Agombar was aware of this possibility, and he realised that they could possibly subsidise the shortfall in the football club.

"He has since become aware that these plans have been in existence for many years, and thus may not be as easy to achieve as some people are suggesting."

The CVA proposal explains the backlash the club has faced from some supporters and says Mr Agombar had been sent anonymous letters with "very unhygienic enclosures".

The directors concede that some fans are "somewhat emotional" about the club.

It was also revealed that Herefordshire bookmaker Mark Blandford loaned the club £125,000 while the Rockfield Foundation, controlled by Mr Blandford, also made a loan to the club worth £104,000. Both loans were made while the club was owned by David Keyte.

Former employee Linda Richards, also leant the club £10,000 - almost half of which has been repaid - during Mr Keyte's time in charge.

A meeting of creditors is planned for August 14 at the club.

Marc Landsman, the insolvency practitioner overseeing the CVA application, says in the report that Mr Keyte indicated to him that he believes the ground leases are worth between £1 million - £1.5 million, although Mr Keyte "did not provide any evidence of this".

Regarding potential redevelopment of the Edgar Street ground, Mr Landsman says: " Whilst the fans have been very verbal about not wanting any redevelopment at the ground, if this is done tastefully it will be the best option since Mr Agombar will have the incentive to ensure all contributions are paid, and with the required reinvestment of most of the profits in the club and to have football played there to comply with the leases this will ensure the survival of the football club."

Other points coming out of the document include:

• Club advisor Joel Nathan will be offered formal role should CVA be accepted

• Some documents cannot be located including ground safety certificates

• Large unnamed companies interested in sponsorship

• One football creditor, Cambridge United, was owed £23,000

• Club expects to sell 200 season tickets, with gates of up to 800

Creditors include;

• Former manager Martin Foyle - £57,822

• Former assistant manager Andrew Porter - £41,754

• Astons Coaches - £2,045

• Blue Line Taxis - £211

• Celtic Marches Beverages - £49

• DLA Piper UK LLP (law firm) - £36,181

• Herefordshire & Ludlow College - £1,441

• Hereford Gas Services - £72

• Herefordshire Council - £64,797

• Jewson Ltd - £5.92

• Quickskip Hereford - £564

• Springfield Poultry - £55.40

• Stirling of Hereford - £312

• The Football Paper Ltd - £108

• West Mercia Police Authority - £8,645

• Wychwood Productions Ltd - £22,080

Comments (6)

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1:32pm Tue 29 Jul 14

B the B says...

You did a good job there Mr Keyte. As for Foyle, cant he be investigated under the trade descriptions act, claiming to be a manager.
You did a good job there Mr Keyte. As for Foyle, cant he be investigated under the trade descriptions act, claiming to be a manager. B the B
  • Score: 0

1:34pm Tue 29 Jul 14

bobby47 says...

Well I ain't t getting involved in this dispute. I'll be damned if I do! I've no wish or desire to have my head nailed to a door thank you all very much.
You'd be an odd sort if you thought having your head nailed to a door was a good idea.
Mess with the boys from the East End and that's what happens. You get your head nailed to a door. I've seen them! Good lads. Lads who've popped out for a pint in Plaistow or Bow and after having some altercation over the price of a kilo of jellied eels, get their heads nailed to a door. You see them staggering up the street muttering, 'leave me be. Make way. My head has been nailed to a door.' It's a common sight around Tower Hamlets, folk affixed to a door by a nail in the head, and for my part, I want no part of it. Call me a bluff old patriot but I do not want Tommy and the lads scurrying up my drainpipe, tapping on my window shouting, 'outside now fatso. We are going to nail your head to this door'. I'll tell him, 'clear off Tommy take your door, your nails and hammer and go bother someone else.'
And whatsmore, I'll tell him, 'it's buggar all to do with me' and if he even tries to nail my head to a door whilst I'm outside diligently recycling my bloody rubbish, Im calling the Constable demanding that the lads are told to stop nailing heads to the door around here.
And if Tommy and the lads are reading this, and lets face it, its highly unlikely, my message to them is, 'this is Hereford. Not Bow and around these parts we do not settle our disputes by nailing people's heads to a bloody door.
Well I ain't t getting involved in this dispute. I'll be damned if I do! I've no wish or desire to have my head nailed to a door thank you all very much. You'd be an odd sort if you thought having your head nailed to a door was a good idea. Mess with the boys from the East End and that's what happens. You get your head nailed to a door. I've seen them! Good lads. Lads who've popped out for a pint in Plaistow or Bow and after having some altercation over the price of a kilo of jellied eels, get their heads nailed to a door. You see them staggering up the street muttering, 'leave me be. Make way. My head has been nailed to a door.' It's a common sight around Tower Hamlets, folk affixed to a door by a nail in the head, and for my part, I want no part of it. Call me a bluff old patriot but I do not want Tommy and the lads scurrying up my drainpipe, tapping on my window shouting, 'outside now fatso. We are going to nail your head to this door'. I'll tell him, 'clear off Tommy take your door, your nails and hammer and go bother someone else.' And whatsmore, I'll tell him, 'it's buggar all to do with me' and if he even tries to nail my head to a door whilst I'm outside diligently recycling my bloody rubbish, Im calling the Constable demanding that the lads are told to stop nailing heads to the door around here. And if Tommy and the lads are reading this, and lets face it, its highly unlikely, my message to them is, 'this is Hereford. Not Bow and around these parts we do not settle our disputes by nailing people's heads to a bloody door. bobby47
  • Score: 15

12:07pm Wed 30 Jul 14

bobby47 says...

Course, I didn't sleep last night did I! All bloody angst ridden about what would happen if the boys from Ham and Bow did tip up here with their bloody door.
She said, 'stop your bloody gibbering and get to sleep'. I said, 'Oh! its high times for you isn't it. They ain't going to nail your head to the door are they. Bloody you in your skimpy nightie and you bloody suspender belt'.
Anyway, I got up, got on the computer and read up on the subject. Most said, 'dreadful experience having your head nailed to a door. Wouldn't wish it on me worst enemy'. Not one said, 'lovely, best thing that ever happened to me'.
Anyway, after getting to sleep I was woken by a tap, tap, tapping on the door. I thought,'Hi up. Hi up. The lads are here'. I slid out out from beneath the duvet, tippy toed up to the curtains to see whether or not anyone was outside holding an old wooden door. Nothing! I said to her, 'go downstairs and open the door'. Course, her being all bloody free of the worry of having your head nailed to wood said, 'you fat yellow bellied, canvas kissing coward of the County. Just hide'.
So I did and then all of a sudden a tiny note was popped through me bloody letterbox. Straight away, I thought, 'this is it. A threatening letter telling me they'll be back with their carpentry tools and their bloody door'.
After giving it an hour of hiding beneath the mattress, I crept down stairs, picked up the tiny little note that read, 'you were not home. You can pick your delivery up from the Post Office Depot in four hours time'.
Course, I didn't sleep last night did I! All bloody angst ridden about what would happen if the boys from Ham and Bow did tip up here with their bloody door. She said, 'stop your bloody gibbering and get to sleep'. I said, 'Oh! its high times for you isn't it. They ain't going to nail your head to the door are they. Bloody you in your skimpy nightie and you bloody suspender belt'. Anyway, I got up, got on the computer and read up on the subject. Most said, 'dreadful experience having your head nailed to a door. Wouldn't wish it on me worst enemy'. Not one said, 'lovely, best thing that ever happened to me'. Anyway, after getting to sleep I was woken by a tap, tap, tapping on the door. I thought,'Hi up. Hi up. The lads are here'. I slid out out from beneath the duvet, tippy toed up to the curtains to see whether or not anyone was outside holding an old wooden door. Nothing! I said to her, 'go downstairs and open the door'. Course, her being all bloody free of the worry of having your head nailed to wood said, 'you fat yellow bellied, canvas kissing coward of the County. Just hide'. So I did and then all of a sudden a tiny note was popped through me bloody letterbox. Straight away, I thought, 'this is it. A threatening letter telling me they'll be back with their carpentry tools and their bloody door'. After giving it an hour of hiding beneath the mattress, I crept down stairs, picked up the tiny little note that read, 'you were not home. You can pick your delivery up from the Post Office Depot in four hours time'. bobby47
  • Score: 5

12:51pm Wed 30 Jul 14

mizza21 says...

I love you bobby47.
I love you bobby47. mizza21
  • Score: 3

9:41pm Wed 30 Jul 14

Cendrick Smemt says...

That is the best possible response to this article. Perfect, just sublime.
That is the best possible response to this article. Perfect, just sublime. Cendrick Smemt
  • Score: 2

12:01am Sat 2 Aug 14

stan)konta says...

It simply beggars belief that this article fails to mention the FACT that amongst the biggest creditors listed in the CVA is ... (drum roll)....

TOMMY AGOMBAR!
to the tune of £468,869.72!

Atherlson Limited £79,815.00
Scrooby Ltd £262,570.00 (Agombar directed 'holding' firms)
Thomas James Agombar Snr £126,484.72

All this obviously implies that the football payments that have FINALLY been made recently, incompletely and incompetently, were LOANS.
Now he wants them back. The barefaced cheek of these people is admirable at least.
It simply beggars belief that this article fails to mention the FACT that amongst the biggest creditors listed in the CVA is ... (drum roll).... TOMMY AGOMBAR! to the tune of £468,869.72! Atherlson Limited £79,815.00 Scrooby Ltd £262,570.00 (Agombar directed 'holding' firms) Thomas James Agombar Snr £126,484.72 All this obviously implies that the football payments that have FINALLY been made recently, incompletely and incompetently, were LOANS. Now he wants them back. The barefaced cheek of these people is admirable at least. stan)konta
  • Score: 4

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