Hamilton insolvency risk remains, admits new owner

Rob Edwards, the club’s new owner, acknowledges that the club is still in danger of going into administration but is confident that insolvency can be avoided.

Seref Zengin’s club, Edwards’ Morley Sports Management Group, purchased a 97.5% stake in the troubled Scottish League 1 club on Sunday.

Players and staff members were informed a few days prior that their December salaries had not been received, which raised doubts about whether Accies would be able to fulfill their weekend commitment to East Fife.

Due to the cold, Edwards claims overdue wages will be paid in 48 hours and the match was postponed at their temporary home in Broadwood, Cumbernauld.

Prior to now, Hamilton had to pay players with an emergency loan from The Funding Globe.

It’s a little sensitive in terms of the situation with that, Edwards told BBC Scotland.

“Aside from the fact that we’re in negotiations to settle that and move on, it’s not really something I can go into a lot of detail about at this point.”

The ability to go into administration depends on other creditors and parties as well as Funding Globe in order to work with us to find the best solution.

“Administration is not in anyone’s best interest,” he said.

Allan Currie, associate Neil Blankstone, and Allan Currie, interim chairman, all joined the new Hamilton board.

Haverfordwest County, a Welsh club, was taken over by MSM five and a half years ago, according to Edwards, who claims their example serves as the blueprint for the transformation of Accies.

According to Edwards, “This is our sixth Cymru Premier season.” In the last three years, we have qualified for Europe twice.

Over the past couple of seasons, Accies have been subject to a number of points deductions, including nine-point and six-point penalties this term, as well as a threat of additional sanctions for any future wages that have been paid late.

They are currently eighth in their division, three points clear of Kelty Hearts and Cove Rangers, who have played a game more recently.

Relegation from League 1 is a very real possibility, according to Edwards, who hopes the club can eventually move from their temporary home in Broadwood to New Douglas Park.

At this point, it’s difficult to give a truly accurate prediction of where the club will be in 12 months or how quickly we think we can get it back on track.

No illusions are made that it will be very challenging. The message for the upcoming months is to support us but be patient.

“We want Hamilton to give back to us and we want him to give something back.”