The Sportsman Goes Into Administration

The Sportsman newspaper, which launched just four months ago, has gone into administration, according to reports in the Guardian.

The gambling and betting title will continue to be published while its directors attempt to secure extra funding.

The Guardian says that the directors of its publisher, Sports Betting Media, have appointed Andrew Andronikou and Peter Kubik of UHY Hacker Young as joint administrators.

The report quotes the Sportsman‘s chairman, Jeremy Deedes, as saying: “Negotiations with interested parties continue to secure the long-term future of the paper. In the meantime the Sportsman will continue to appear on the newsstand every day.”

After a strong start (see The Sportsman Sees Successful Debut Sales), the paper’s sales then fell short of its 40,000 break-even mark, with it failing to release a June ABC figure (see Sportsman Not Submitting ABC Circulations) after its management said that changing distributors had led to inconsistent circulation results.

The Sportsman: www.thesportsman.com