Folkstone players defer wages to keep club afloat
Thu 20th Jan 2011 | Money & Finance
Folkestone Invicta players volunteered to give up four weeks’ wages to help the Ryman League Premier Division club overcome their latest financial hurdle.
The club are struggling both on and off the field however, the news emerged that the players had given up their money to help the club meet their CVA payments after a spell of postponements.
Chairman Lynn Woods said: "Despite the disappointment of losing matchday income and Stripes functions over Christmas and New Year, the club remains in a break-even position because it continues to spend only what it can afford.
"That is due in significant part to the players, who have volunteered to play without wages for four weeks so that the club can keep up with other financial commitments."
He added: "The players have offered to do this, they weren’t asked, and all of the senior players have also volunteered wage reductions for the rest of the season.
"That says a lot for the squad and their commitment to club and town."
Invicta have also moved to save more than £5,000 a year by cancelling their clubhouse Sky subscription.
Manager Neil Cugley said: "It just goes to show what a good bunch they are. If everyone does what they say they will do then it means they will be paid from now on until the end of the season.
"The players have been brilliant. This has helped ensure there will still be a club in the summer."
Thu 9th Mar 2017 | Money & Finance
Rate relief for football in the community: An open goal for Government in 2017 Football clubs, large and small, will not benefit from any substantive ‘give-aways’ following the Chancellors...
Thu 2nd Mar 2017 | Money & Finance
Leicester City today announced its financial results for the year ending 31 May, 2016 – a period of continued growth and unprecedented success for the Football Club. An historic, captivating...
Wed 1st Mar 2017 | Money & Finance
Liverpool FC has filed its annual accounts for the year to May 31, 2016 reporting that revenues are continuing to grow, creating further financial stability for the club. Overall revenue increased to...