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Next Game: Banbury Away On Friday March 29th Kick-Off 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."