Preston was close to going under – chairman 20/08/2010 |
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Preston North End’s new chairman Maurice Lindsay has claimed the club was close to going bust last season.
Lindsay replaced Derek Shaw at the end of June and has already trimmed £1.2m off the club’s £10m wage bill with plans for more savings being put in place.
Lindsay said: “I found a difficult situation when I came in but I'm determined to succeed. The aim is to run the place properly, stop it going bust – and it did come close to that – then make us successful on the football pitch.
“This season has to be about consolidation and stability. The finances were in such a mess that without the efforts of owner Trevor Hemmings and myself, we would be in the same position as Crystal Palace were or Portsmouth are.
“We're chipping away at the wage bill. It was close to £10m, we've got it down to £8.8m but it needs to come down to £6.5m.”
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