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Club Statement On Tax Agreement

Date: 07/03/2005

GRIMSBY Town Football Club have made a statement regarding the negotiations with the Inland Revenue department which brings some relief to the club.

The Mariners have been handed a lifeline by the Inland Revenue with the Club offered what the Chairman calls a "favourable payment schedule."

With a £720,000 tax debt, Town face the real possibility of administration and even extinction. The club has got into financial trouble as a direct result of the collapse of ITV digital.

As we have seen with other clubs, Grimsby Town is counting the cost of broken contracts and is scrambling for survival.

Town have been offered time to pay the debt, plus interest, but the Chairman says that the club are not out of the woods yet.

"We have been in discussion with the Inland Revenue and they have agreed with us a favourable payment schedule for this debt.

"However, we are not out of trouble yet and the hard work starts here," he said.

" We have clearly got a lot of funds to raise and we would appeal to people to continue to buy shares and to support the Keep the Mariners Afloat campaign."

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