BREAKING: Dave Allen resigns as chairman and director of Chesterfield after putting multi-millions into Proact club

Dave Allen has this evening confirmed he is resigning as chairman and director of Chesterfield.

Monday, 14th November 2016, 7:18 pm
Updated Wednesday, 16th November 2016, 5:23 pm
Dave Allen watches Chesterfield alongside Chris Turner

Allen, the former chairman of Sheffield Wednesday, made the shock announcement at tonight's AGM, which follows Saturday's 4-1 defeat to local rivals Sheffield United.

Allen took charge of Chesterfield in 2012, succeeding long-serving Barrie Hubbard. He told the AGM: "At this point, I must inform you that as of now, I resign as chairman and director of Chesterfield Football Club.

"At the outset, I never intended to become the chairman. I was just an investor who wanted to see the club progress and get into the Championship. It was then my plan to sell on the investment.

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"I took over as chairman because the previous incumbent sat at the end of the boardroom table and said after one meeting that unless I put a further £600,000 into the club, they could not carry on. This was after I'd already previously put in over £2m, over and above the initial deal, which was £4m for 80 per cent of the shares and arranged a £2m mortgage over a ten-year period. I did all that.

"The reason I'm resigning is because at the board meeting held this afternoon, I suggested that all the directors should not seek repayment of loans and waive any interest until such time as the club is in a position to pay it. The interest along amounts to just over £150,000 per annum, so it would be a considerable saving.

"By the way, over the last couple of years, I've put in an extra £1.9m, for which I personally have not taken any interest at all. It is a sad day for me, but I can't carry on like this. I wish you all the best. There will be no further statements on this subject from me, either verbally or written."