: Thu Jun 04, 2009 2:29 pm
CASH-STRAPPED Dons were placed in administration today to try to save the club from going out of business.
Although the club was not faced with a winding up order chief executive Dave Marshall yesterday called in financial experts who declared that it was insolvent leaving directors with no alternative but to move into administration.
Jeremy Bleazard of Cleckheaton based XL Business Solutions has been appointed as the club's administrator.
He said: "After reviewing the financial position of the club, it was clear the company was insolvent.
"The directors faced a difficult decision but the only real alternative available to them was to place the club into liquidation which would spell the end of Doncaster rugby league club forever.
"Administration will give the club a lifeline until a buyer can be found."
But he warned: "The cash flow for the club is extremely tight and the company will need an injection of funds to continue trading to the end of the season."
Marshall said: "The plight of the club has been well publicised recently.
"Like many other professional sporting clubs across the country the current economic downturn has affected our income.
"We have taken steps to reduce our overheads and have tried to secure income from others sources.
"Unfortunately it has not been sufficient to turn the club around."
