Date: 27th March 2015 at 5:15pm
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Mansfield Town and Steve Hymas have today resolved their legal dispute over Steve’s former loans to the club.

A statement on the Official Site explained that the agreement would provide an improvement to the financial well being of the football club, and as part of the agreement struck Hymas has now converted his outstanding loans into preferential shares.

Part of the deal also sees John Radford convert an equivalent amount of loans in the club into preferential shares as well.

In total it means the agreement sees almost £1million worth of debt in the club wiped out and of course with legal no action no longer required, the club makes a saving there as well.

Hymas also returns to the club as a director and he will have an important role in our youth development.

Hymas explained.

‘Anyone who has ever known me knows that I love Mansfield Town Football Club. I am delighted that John and I have been able to do something, which settles our differences, strengthens the financial well being of the football club and allows me to get more involved with grass roots football. I am glad this is all over and I hope that all fans will now get behind the football club for the remaining matches of this season.’

Chairman Radford said himself.

‘This is another great day for this marvellous club. We have effectively removed £1m of debt from the club. This is really important as financial rules around the running of a football club are coming under much greater scrutiny from those who run the game. Similarly, it is great that Steve is coming back to help the football club. I just hope that all the fans will now get behind the football club, the players and the manager. We have eight games to play and if we could win all of those games it would be a great end to the season! Come on you Stags!’

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