UK - Scheme trustees hold the fate of Bradford City Football Club in their hands.
Administrators have asked the club’s landlord, the Gibb Pension Fund, to waive the £300,000 rent on the Valley Parade ground next season.
And they warn the club will be forced to close unless the pension fund agrees.
A spokesman for administration firm Kroll said: “It has got to a very worrying and sad stage. We have been in talks for several weeks but we need a formal answer, otherwise the club will face closure.”
Fund chairman Gordon Gibb dipped into his family’s pension to buy Valley Parade while he was chairman of the football club last year. He paid off the £6.3m owed to mortgage lender Lombard and leased the ground back to the club at a nominal rate for 50 years.
The move to break into the pension fund was backed by Gibb’s mother and sisters who run Yorkshire theme parks Flamingo Land and Pleasure Island with him.
Bradford, relegated from the first division last season, owes more than £30m and is in its second period of administration since May 2002.
If the pension scheme refuses the rent-free request, the club would become the first to be expelled from the Football League because of insolvency since Maidstone United in 1992.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.