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Colchester United F.C - latest accounts 07:42 - Apr 11 with 1325 views

I have just had a quick look through the latest set of accounts for the club that were filed a few days ago.

I was expecting a loss in excess of £2 million year on year but it is much worse.

The figures indicate ( to me ) that this may be the worst trading year in the history of the club.

Colchester United F.C - latest accounts on 12:50 - May 21 with 907 views

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Folk should check out the accounts for 'Hot Lizard' the so called shirt sponsors of Colchester United last season.

Average number of employees throughout the year for 'Hot Lizard' stands at around half a dozen?

It was strange driving up to the stadium at the weekend to still see signage in the area for 'Weston Homes Community Stadium'. I should imagine this will finally be removed when Jobserve is put out to grass.

Unlikely anyone will hear of 'Hot Lizard' again after it is replaced in August on the shirt fronts.

Colchester United F.C - latest accounts on 16:22 - Jun 30 with 335 views

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Colchester United F.C - latest accounts on 12:50 - May 21 by SparkfilmsTV

Looks like Hot Lizard lives on for a while then.

So, who really is Tim Foley?

Who are Lightwell Sports Group?

Who is / was behind them ( if anyone )?

Negotiations have been going on for many months now so something must have happened, that as yet, has not been fully explained ( and may never be ).

Some folk seem quite unconcerned that this deal has fallen through.

I'm very concerned for the future of the club.

How about Tim Foley and Lightwell Sports Group ( or whoever the xxxx they are ) issue their own statement explaining their take on matters?

Maybe they will.

As l mentioned some months ago - the Colchester United accounts are flashing a red warning light.

[Post edited 30 Jun 16:23]

Colchester United F.C - latest accounts on 19:35 - Jun 30 with 254 views

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So Lightwell have made a statement of sorts.

Having said that, it doesn't really.explain anything.

If this has been going on for 6 months there must have been a circa price tag on the package that was making up the deal a long time back in negotiations.

It is my assumption that the original price tag was deemed far too excessive for what was on offer by Tim Foley's legal and financial advisors.

This is pure guess work on my part and l doubt anyone on either side of the deal will enlighten us on the figures involved.

Perhaps Lightwell were millions short on the ticket price

Who knows?

But if they were millions short then any other prospective buyer may also be well short on valuation and that could pose a mighty problem as time moves forward.

[Post edited 30 Jun 19:36]

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