'No risk’ to Waterford FC as owner awaits sentencing

OPENING UP: Waterford owner Andy Pilley, left, and Fleetwood Town head coach Scott Brown at the opening of the Waterford FC official club store and matchday ticket office before the SSE Airtricity Men's First Division match between Waterford and Cobh Ramblers at the RSC in Waterford. Photo by Michael P Ryan/Sportsfile

Waterford insist it’s business as usual after Andy Pilley’s fraud conviction, adamant they’d made contingencies for the guilty verdict delivered on Friday.

The charges relating to sale practices at his energy company had been laid against the businessman before he decided last August to add the League of Ireland First Division outfit to a portfolio that includes Fleetwood Town, a club where his investment formed the backbone of their ascent from the lower reaches of the non-league ladder to League One.

He compared his multi-club ownership model to the approach adopted by Manchester City’s Arab backers, the City Group.

Pilley (52) was on trial at Preston Crown Court since last October.

According to The Lancashire Post, 52-year-old Pilley was found guilty of “two counts of running a business with the intention of defrauding creditors, one count of false representation and one count of being concerned with the retention of criminal property".

A guilty verdict was delivered at the court on Friday, with the jury reaching a unanimous decision and Pilley has since been remanded in custody to await sentencing.

A prison sentence is expected to be handed down on Tuesday.

Waterford, occupying the runners-up spot but 10 points behind Galway United, issued a second update on Saturday morning following their 4-0 win at Finn Harps last night.

It read: “Waterford FC would like to reassure supporters the Club will continue to operate as normal and there will be no risk to the future of the club.

"The Club’s Senior Management team and directors have been planning for a number of months for the event of a verdict of this nature.

“A meeting of the Club’s management has taken place this morning and plans are already in operation to ensure it's business as usual.

“We’d like to reassure supporters charges are solely brought against Andy Pilley and not Waterford Football Club, Fleetwood Town Football Club or any of the businesses attached to the group.

“An announcement regarding the next step will be made in due course.” 

The English Football League authorities said: “The EFL notes today’s guilty verdict by the court in respect of the case involving Fleetwood Town Chairman Andy Pilley.

“The League will now discuss the implications of the decision with officials at the Club in the context of the Owners’ and Directors’ Test.” 

There is no equivalent vetting system in place by the FAI.