Gibson quashes Middlesbrough administration rumours
Mon 18th Apr 2011 | Money & Finance
Middlesbrough FC chairman Steve Gibson has dismissed romours that the club is on the verge of administration.
Gibson has dismissed the rumours that the club was on the verge of going into administration as "nonsense".
Speaking to local newspaper the Evening Gazette, Gibson said that the speculation was both wrong and mischievous.
“I don’t know where these stories come from. It’s all nonsense,” said Gibson.
He continued: “People who spread these rumours are no friends of Middlesbrough Football Club.
“I can tell them that there is absolutely no substance to the stories that they have heard.”
Gibson added: “Who starts them? I wish I knew how these things start.
“There was one stupid comment from Phil Brown (Preston North End manager) and people jump to conclusions.
“Phil Brown apologised for his remarks and Preston apologised and that should have been the end of it. We don’t need people saying things about the club which are not true.”
Putting the rumours to bed, Gibson told the paper that apart from the current wage bill, he was happy with the club’s financial performance.
“We have been the best resourced club in the Championship this season by a long, long way. There is nothing wrong with the finances of the club.
“What we do have is a huge wage bill and that’s something we are dealing with.
“Until the arrival of Tony Mowbray we were not getting a return on the pitch from the wage bill.
“But our wage bill is unsustainable at any level. Our wage bill is bigger than the combined wage bills of the top two clubs in this league.
“But it’s not about how big your wage bill is, it’s about getting value for money from your wage bill.
“We are 18th in the Championship and that’s why this situation can’t continue.
“But, whatever happens with regard to the wage bill, we will continue to be one of the best resourced teams in the Championship next season.
“The club will be resourced to give the manager a competitive Championship squad.”
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