Khan vows to help Stanley

Shareholder makes huge cash pledge

Last updated: 30th May 2009   Subscribe to RSS Feed

Khan vows to help Stanley

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Accrington Stanley shareholder Ilyas Khan has pledged to give the club £250,000 to help them survive their financial turmoil.

Stanley were issued with a winding-up order earlier this week and must appear in court on 10th June faced with unpaid tax and national insurance contributions of around £300,000.

Khan, who owns 15 per cent of the club, admits he was devastated to hear of the news but he hopes there is a way back.

He told the Accrington Observer: "I felt sickened when I read about the debt. I know the Inland Revenue do not take people to court unless the situation is acute and my biggest worry is that the club may owe £300,000 to the Inland Revenue - but who else do they owe the money to?

"It is disgraceful that the club is in this situation. But I think there is a simple solution - and that is to issue new shares and the money which comes in from there to pay off the debts and then let's start again.

"There are others like me who would step up and I think the board should issue instructions about a share issue and keep it open for two weeks for people to come and buy shares - whether it's one or more.

"I will put up the first £250,000 and I do not want a place on the board or the chairmanship. I just want the club to survive."

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