THE ARCHIVE
Clubs
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While attention in Scotland was fixed, as ever, on the Old Firm, the real poignancy – again, as ever – lay elsewhere; at New Broomfield, the home of Airdrieonians FC, where a major financial crisis looked likely to put an end to more than a century of senior football. The Diamonds, and their putative financial and footballing saviour Steve Archibald, appeared to be on the verge of a potentially fatal defeat at the hands of the mean-spirited and seemingly impregnable defence of the club’s appointed liquidators, KPMG. The story, however, may be slightly less straightforward. Airdrie’s story – one of bad luck, bad choices and unrealised ambition – could be merely the precursor to a raft of similar desperate tales, as the realisation dawns on financial institutions and creditors that too many Scottish clubs are struggling to maintain or build all-seated stadiums and full-time squads on paltry crowds and insufficient commercial income The reason for the imposition of the death warrant at Airdrie was simple. KPMG’s doubts over the viability of Archibald’s supposed £2 million rescue package – which were well established – had been intensified by arrears of £30,000 in the weekly payments agreed by both parties. The liquidators – not known for their benevolence towards those with good intentions but no hard cash – tapped their watches, sucked on their teeth and, finally, sacked Archibald from his position as preferred buyer of the club. From WSC 170 April 2001. What was happening this month On the subject...
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