Chesterfield chairman Dave Allen has announced he will be resigning as chairman after four years in a role he said he ‘never intended' to uptake.
Allen also revealed at the club's Annual General Meeting that he will vacate his place on the board as a director, triggering anxiety over the state of the Spireites finances.
In a parting gesture, Allen confirmed he would waive any immediate interest owed to him as he exited a situation he was seemingly forced into.
The former Sheffield Wednesday shareholder told those in attendance: “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.
“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% 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 alone 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.
Over the past six years the Spireites have become increasingly reliant upon loans – amounting to £7m in 2013 – and as a result have not been reluctant in selling top talents Sam Clucas, Tendayi Darikwa, and Sam Morsy in order to balance the books.
In filling the void left by Allen, the remaining board directors are set to hold an Emergency General Meeting in 28 days.
On-the-pitch matters mirror the concern surrounding the club's finances with manager Danny Wilson left to contend with relegation fears after 11 defeats in 17 League one matches see the club lie bottom of the division.
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