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SBD Global/March 14, 2013/Franchises

Scottish Side Dunfermline Legend Jim Leishman Says Club Aiming To Avoid Newco

Scottish First Division Dunfermline legend Jim Leishman "insists the club is not interested in following Rangers and starting as a newco," according to Darren Johnstone of the SCOTSMAN. The club, amid "severe cashflow problems that have led to crippling wages issues for players and staff dating back to October," face a race against time to survive with U.K. tax authority HMRC initiating winding-up proceedings over an unpaid £134,000 ($200,000) bill. Leishman, who is heading a Steering Group charged with trying to safeguard the club’s future, said, “During all the conversations that I have been having, nobody is wanting liquidation. It’s how we get to the point where we can certainly avoid that. None of the Steering Group or The Pars Community [a fans group wanting to take over the club] want liquidation. Accountant Stephen Taylor, who is also part of the working party, said, “Liquidation is not going to benefit anyone, so we have to try and find a pathway through this." Talks are set to continue this week between Owner Gavin Masterton and The Pars Community in the hope of reaching a takeover compromise (SCOTSMAN, 3/13).
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