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We will not fold: Welshpool Town FC

Created on 01/02/2011 @ 14:41


Technogroup Welshpool Football Club has again moved quickly to reassure the town that it will not fold.
The club held an emergency meeting with the supporters to discuss its current precarious financial situation and has issued the following statement:
“The committee and supporters present were briefed on the current financial situation within the club. While there are numerous rumours around the town that Technogroup are imminently going to withdraw their support and funding, we have not had any indication from anyone within the company to suggest this is the case.
Back in December, we had correspondence from Technogroup to apologise for the delay in paying some of the instalments of our sponsorship deal and to assure us that we shall receive the full amounts in due course. We have had no further communication to say that this position has changed and we appreciate that Technogroup are in the same difficult financial situation as every other company in the country.
For many years now Technogroup have been great supporters of Welshpool Football Club and, as such, they deserve our loyalty and patience in return.
Individual supporters have pledged financial assistance in the short term to ensure that player wages continue to be paid in full and on time in the event that club funds fail to be sufficient - though we stress that this scenario is a long way off. This money will be a loan only and shall be repaid in full - as shall monies previously loaned to the club - once the full sponsorship money has been received.
This kind of arrangement is quite common place in football, especially at this level, so we are no different to many of our neighbouring clubs.
The current wage budget was carefully formulated pre season taking into account our sponsorship agreements, lottery income and other fund raising activities so it remains the case that it is sustainable until the end of the season.
Supporters can rest assured that the team assembled by Chris Herbert shall remain intact for the remainder of the campaign and our fight against relegation. There is a general feeling within the club that we have now turned a corner and are beginning to take great strides forward on and off the pitch. Long may it continue.”
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