The annual accounts show a loss of around £150,000 a week and debts last reported at £25m and the last few weeks have seen those players still wanted by the club offered greatly reduced deals.
Time For Honesty
The annual accounts show a loss of around £150,000 a week and debts last reported at £25m and the last few weeks have seen those players still wanted by the club offered greatly reduced deals.
Highfield Road has long since been sold and then resold by Mike McMcGinnity who claimed at the AGM that he had even made a 38% profit and the vultures have been circling round what the club have left with everything from floodlights to the turnstiles being put up for the trade market to feast on.
Our training ground at Ryton has also fallen the way of Highfield Road and in future years, you can expect to see the land used for housing rather than the development of our players.
This means that City will have to look elsewhere to train. Now,the Alan Higgs Centre which opened last October at Allard Way would have been a fine place to rehearse those set piece moves.
This means that City will have to look elsewhere to train. Now,the Alan Higgs Centre which opened last October at Allard Way would have been a fine place to rehearse those set piece moves.
However there is growing speculation that the interest the Sky Blues have in the former MSA Ground may have to be sold to keep the club afloat. With bank repayments due in August, any monies raised from this. may used to pay this and Director's debts, instead of the first year's rent and giving Micky Adams a decent budget rather than one not out of place at a Conference side.
It is easy to blame the current board who were all around when money was flying out of the club during the Richardson era and easy to say that the mess the club is in, is their fault for failing to find outside investment.
For the future of the club, we need to move on and all pull in a similar sort of direction. To do this,we need the truth, the whole truth and nothing but. Supporters and other interested parties need to know exactly how serious this financial problem is,before offers of assistance will be forthcoming.
Hopefully, the Board will be happy to work with it's shareholders and supporters and we can move into the Arena with the off field prospects for the club on the up.
Hopefully, the Board will be happy to work with it's shareholders and supporters and we can move into the Arena with the off field prospects for the club on the up.