But Who Would Fund Any Shortfall, Mr Anon, If All/Part Of --
Fri Jun 29, 2012 08:24
--the £120K was not raised during the rest of the year ?
The club/tust are going to have to be as much as possible in the business of certainties and not "wing and a prayer" economics in the future. Look at the situation where the latter has got us to.
The pressure on the club/trust to step in and fund any shortfall would be immense. Even if they were not legally obliged to, or (even more importantly)did not have the money to do so without going into debt. Going into debt is something that will need to be avoided, at almost all/all costs, in the future.
I was really pleased that it looked like the C of E was going to survive due to the great efforts of some very dedicated people. But unless it can be absolutely certain it can raise the full amount required to get it through the whole year in advance, it would not be right in the current financial circumstances for the club/trust to back it.
Oh that things where different. But they are clearly not.
In just under 2 weeks the Chairboys Academy Trust (A separate Ltd company NOT the club) had identified £365k of funding towards the £485k required to run the Academy. They needed 3 months cash flow... more