Harriers searching for new investors

Harriers' chairman Ken Rae wants to attract new investors to the club.

Harriers' chairman Ken Rae wants to attract new investors to the club.

First published in Sport
Last updated

KIDDERMINSTER Harriers are seeking fresh investors in the club, it has been revealed.

Directors at Aggborough have announced they want help to support the playing budget set for 2014/15.

The club currently has no controlling shareholder. The top eight shareholders, who control 92 per cent of the issued shares, all own more than five per cent, but no individual owns more than 24 per cent.

Chairman Ken Rae said: “We are looking for investors who want to share the journey with us to achieve our aim of getting promoted back into the Football League.

"If an investor wants an active involvement in the running of the club, the existing directors would welcome them on board so long as their aims and aspirations are for the long term benefit of Kidderminster Harriers.

"If a more non–executive role was preferred that would also be acceptable. Four directors have resigned from the club in 2014 and unfortunately that has substantially reduced new funds into the club and monies we believed were available to us when setting this year’s budgets have not as yet materialised.

"The Aggborough ground is licenced for 6,444 and is well appointed. The only expense necessary if the Club were promoted is to change the bulbs in the floodlights to improve the lux readings and some minor alterations to the dressing room areas.”

Finance director Joe Hancox added: “At the present moment, the club has no substantial debt, and at today’s date has no arrears of Paye or VAT. However, new funds will be needed in 2014/15 if the playing squad assembled is to remain together for the remainder of the current season.

"The directors have known for some time of the financial challenge and are committed to continue taking whatever decisive actions are necessary to make the financial adjustments needed.”

Interested parties are in the first instance asked to e-mail chairman@harriers.co.uk.

Harriers are currently unbeaten after five matches in the Conference Premier Division and are actively seeking to return to the Football League following the five years in Division Two of the Football League from 2000 to 2005.

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