NEXT HOME GAME - TBC
NEXT AWAY GAME - SUPPORTERS XI ARE PLAYING WORCESTER AT MALVERN ON SUNDAY AUGUST 3rd AT 3.00pm

Tuesday, February 26, 2013

Stockport Face Similar Cash Battles


With the Bulls' AGM fresh in the mind, the team travel to Stockport tonight - a side with similar cash issues to the Bulls.

In their first season in non-league, the Hatters lost £650,000 after losing £850,000 in their final League Two season. They expect losses this season, their second in the fifth tier, to be down to £100,000 after heavy cost cutting.

To cover losses the Hatters have had to borrow £500,000 from shareholders, as well as raising a further £500,000 from a share issue - something the Bulls board are also considering to bolster funds at Edgar Street. 

In denying internet rumours of a £1.5million debt at Edgeley Park this week, vice chairman Spencer Fearn acknowledged that the heavy losses of the last two years could imply that size of debt:

"I can see where people have got £1.5m from; £500,000 was a share issue that went into the club. What I can tell you is there’s £500,000 of loans and that’s it – they are to existing shareholders."