The Song Remains The Same

A new HUFC but the same crisis. Hartlepool United face an incredibly similar situation to Hereford United with a looming set of bills threatening their existence.

Both HUFCs were in Council-owned grounds, had a lengthy period of financial stability under owners that didn't necessarily have universal backing, and came to a financial meltdown in a hasty way following relegation.

While the Hereford United collapse took four years from the transfer of ownership from good to bad, it was in the Court facing a winding-up petition within two and a half. Hartlepool have reached crisis in similar time. In both cases the alarm bells really sounded after the loss of Football League status.

This week's stark calls for £200,000 in fourteen days to keep the club afloat come after a series of disastrous Boardroom appointments. The original bidders, Stephen Murrall and Peter Harris, were eventually convicted of fraud over their bid for the club, having helped themselves to gate receipts they weren't entitled to.

Their replacement, Gary Coxall, was declared bankrupt shortly after his tenure ended in May leaving Sage Investments holding the incredibly cash hungry baby that slipped out of the Football League shortly after Coxall's resignation. From stability in 2015 under the less than popular Ken Hodcroft to owing a reported £1.8million - mostly to Sage Investments - and needing a further six-figure sum in short order just two and a half years later.

The Supporters Trust have kept their powder dry so far, going only so far as to back supporters fundraising efforts. £11,000 and counting has been donated to a Just Giving page, with Middlesborough fans - mindful of their 1986 eviction and the assistance they had from Hartlepool while they were locked out of Ayresome Park - donating generously.

Sage Investments are reported to be looking for some of their debt to be returned with the club up for sale. Any bidder with good intentions for the club will demand every penny be written off. No sane businessman would buy a cash burning machine with debt already attached and, with both reported interested parties outside the UK, the likelihood of a millionaire fan making an altrusitic gesture is incredibly slim. We've been there.

The fans of the club may have to come to a realisation - that the club will only lurch from crisis to crisis without substantial investment over the next six months. There may well be no saviour that will throw sufficient money into the hole to plug it up. The debts will keep on coming into the summer as the players remain contracted to the club, so there's probably another £1million needed there. We've been there.

Administration isn't an option, not in the National League with their debt repayment rules. It'll buy time but will not reduce the sums owed. Agree with creditors to slash debts - or reach no deal at all - and the club will be demoted to Step 3. We've been there.

It is an unfortunate situation, not of the fans making, and there is an unfortunate outcome that will see the company die. But the club - the fans - will live on in the Council owned ground with a sensible business plan.

We've been there.