Central Coast Mariners future could be in jeopardy if a restructure of ownership fails
By Ray Gatt The Australian March 19, 2013 8:45AM
The future of Central Coast Mariners, one of the most successful clubs in the A-League, could be in jeopardy if a restructure of its ownership fails.
Football Federation Australia has confirmed that discussions are under way for one of the club's investors to take a controlling interest in the embattled Mariners and take on their considerable debts, although fears emerged yesterday that the move might have come too late.
English businessman Michael Charlesworth is understood to have been negotiating for several weeks with FFA and the Mariners' major stakeholder and chairman, Peter Turnbull, to take the reins of the club, which has had mounting financial problems for the past three or four seasons.
The situation came to a head after players and staff had not been paid last week and were told they would get their wages either on Tuesday or Wednesday. As of 5pm, no money had been deposited into their accounts.
That follows news the club was told last week that its back-of-shirt sponsor, Primo Smallgoods, would not renew its $250,000-a-season, three-year contract next season. The Australian foreshadowed that move in January.
It also has been revealed the Mariners made an application to FFA recently for a special assistance financial package but were knocked back.
While a club insider denied its future was in doubt, different sources claimed the situation was "dire" and "the worst it has ever been".
Turnbull, a property investor who has poured $6 million into the club, has been searching for a buyer for several years.
While Charlesworth is seen as the Mariners' likely saviour, it is understood a Melbourne consortium has been looking at the club with a view to relocating to Geelong.
A businessman who shares his time between his eastern suburbs home in Sydney and England, Charlesworth owns Mediatel, a global mobile phone number company.
He has been with the Mariners for the past two years and, like Turnbull, has been know to pay many bills out of his own pocket. But as much as he has a passion and desire to get the club out of its financial mess, The Australian understands he may be wavering.
FFA meanwhile will be eager to ensure the survival of the Mariners as it can't afford to lose another club following the demise of North Queensland Fury (2010-11) and Gold Coast United (last season). Losing the Mariners would reduce the competition to nine teams and also adversely affect the $160m, four-year television deal FFA signed last November.
However, FFA is unlikely to rescue the club should it go under, as it is already heavily committed to funding the Wanderers, which it owns.
http://www.foxsports.com.au/footbal...ils/story-e6frf4gl-1226600335928#.UUj9WxxgdqV
