Chesterfield FC have reached an agreement with four former directors, over the £1.8m the club collectively owed them.
David Jones, Phillip Taylor, Chris Breeze and Alan Goodall all held debentures, but quit the boardroom in the wake of Dave Allen’s resignation as chairman.
The majority shareholder revealed in his short speech at the club’s AGM that he had asked them to defer interest on their loans and that their response had plaed a part in his decision to resign.
Company secretary Ashley Carson has been in negotiations with the quartet, through their solicitor, for a number of weeks and today the club confirmed an agreement has been reached over the debentures.
The nature of the agreement cannot be revealed as the parties have all signed a confidentiality clause.
Carson said that although the ex directors had not given notice to withdraw their money in the club, it was important to clarify the financial situation over the debt and ‘draw a line’ under the issue.
“With all the recent off-the-field activity, it was vital that the club got back on a stable footing going forward,” he said.
“I would like to thank David, Phil, Chris and Alan for their contribution to the club whilst serving on the board.”