Financial Difficulties
These financial difficulties coincided with on-the-pitch struggles. Chester were relegated from the Football League at the end of the 2008–09 season. They were initially barred from competing in the 2009-10 season due to Her Majesty's Revenue and Customs revoking the proposed CVA (company voluntary arrangement), but the club were eventually given FA affiliation. This came, however, with a 25-point penalty at the start of the 2009–10 season as a result of administration and revoked CVA (company voluntary arrangement). This left the club struggling in the Football Conference. Chester continued to experience financial difficulties and in November 2009, Vaughan was disqualified from acting as a director of any company for a period of 11 years, following his involvement in a £500,000 VAT fraud whilst director of Widnes Vikings. As a result, he became the first owner of a professional football club to fail the FA's "Fit and proper person test", and was forced to reduce his shareholding in Chester City. Control of the club was then passed back to Stephen Vaughan, Jr., Vaughan continued to inject loans into the club as fans stayed away. By February 2010, Chester City were unable to fulfil their fixtures due to failures to pay police,and players, and the club was suspended from the Football Conference pending a vote on their ejection to be held on Friday 26 February. The decision was made to expel Chester City from the Football Conference and, following a court order on 10 March it was confirmed that the club were to be wound up.
Read more about this topic: Stephen Vaughan, Sr., Chester City F.C.
Famous quotes containing the words financial and/or difficulties:
“Creditor. One of a tribe of savages dwelling beyond the Financial Straits and dreaded for their desolating incursions.”
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