Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Kidderminster Harriers FC in 'dire financial position'

Thu 4th Nov 2010 | Money & Finance

Dave Reynolds, the new Kidderminster Harriers chairman says that they are in a "dire financial position" in an urgent new club appeal for fresh investment.

After taking a majority shareholding at Aggborough on Saturday, Reynolds is already warning that Harriers are just days away from being in real hot water.

"The club has outstanding debts of over £250,000, 50% of which is due within the next few days," Reynolds told the BBC.

"We are in a dire financial position. I would be thrilled to hear from anyone."

The club were put up for sale last month by then chairman Barry Norgrove, who, along with fellow director Neil Savery, resigned when the Kidderminster board accepted Reynolds' offer.

But Reynolds has already made it clear that his appointment was only a short-term solution, while the Blue Square Bet Premier club seek the major investment needed to keep them afloat in the long term.

"It is my intention to remain as chairman in the short term only until someone more suitable becomes available," said Reynolds.

"We are seeking community support in resolving the issues so that we can return to having a vibrant, financially secure football club at the heart of our town.

"The board are working hard to identify areas to improve efficiency and to reduce costs but without a large cash injection, the long-term future of the club is not viable."

 

 

 

 

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Mats Hummels Joins Juan Mata For Common Goal

Thu 17th Aug 2017 | Money & Finance

Bayern Munich and Manchester United stars unite behind Common Goal #CommonGoal World Cup winner and Bayern Munich player Mats Hummels has become the second footballer to join Common Goal , pledging 1%...

Aldershot Town Gets Financial Support From Council

Tue 15th Aug 2017 | Money & Finance

Aldershot Town Football Club has confirmed that Rushmoor Borough Council has agreed to a package of financial support for the club, including rent and rates relief, until 2021. Following on-field...

Chinese debts emphasize need for local players’ association

Thu 27th Jul 2017 | Money & Finance

FIFPro is ready to offer assistance to professional footballers in China and other parts of the world where local player associations do not yet exist. Media reports this week revealed several Chinese...

SPFL: No fresh tax scheme sanctions against Rangers

Wed 26th Jul 2017 | Money & Finance

The SPFL Board today announced, following legal advice from eminent Senior Counsel, Gerry Moynihan Q.C., that there will be no further disciplinary proceedings taken by the SPFL connected with the use...