Finance director of Chester FC Laurence Kirby has confirmed that the football club could run out of cash from next month (February) if its fortunes don’t turn around soon… and £50,000 is now needed in the short term to keep it afloat, since its £100,000 reserve has almost gone.
According to the North Wales Daily Post, the club will be looking to let more expensive players go, including Kingsley James, Paul Turnbull and Ross Hannah. Some working groups have now been set up to help the firm plan for the short and long term.
Mr Kirby explained that it costs between £85,000 and £90,000 a month to run the club. If it survives to next season, the budget could fall from £450,000 to £250,000. He was quoted by the news source as saying: “If we can’t raise £85,000-£90,000 a month then we could be finished in a couple of months. We need to recover the deficit. It has eaten away at reserves. This is the reality.”
The second instalment of Sam Hughes’ transfer fee for the move to Leicester has also not yet been banked and it may be that the club has to sell the selling-on clause in his contract if there are no other options for keeping the club afloat.
The Chester Chronicle also reports that the chairman of City Fans United – the supporters group that owns Chester FC – has stepped down from the board, along with two other directors.
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