Fans trust disappointed with club's 'financial stewardship'

Fans trust disappointed with club's 'financial stewardship'

Fans trust disappointed with club's 'financial stewardship'

First published in Sport

KIDDERMINSTER Harriers Independent Supporters Trust (KHIST) have expressed their disappointment at the handling of the club's finances over the last 18 months.

The Aggborough outfit put out a plea for new investors to join the board yesterday, citing the departure of Mark and Ruth Serrell and Kath and Ernie Lane as directors as one of the reasons for their lack of cash flow.

In July, KHIST gave the club £21,500 to help pay wages through the close season.

Despite the season getting underway, the club have warned that it will not be able to keep the current squad together unless there is an extra cash injection.

Harriers are also in the process of taking legal action against the Lanes over a financial wrangle.

However, Harriers’ supporters are frustrated with the club’s financial situation, particularly considering a number of recent cash windfalls.

The sale of Joe Lolley to Championship side Huddersfield for £250,000, which is being paid in instalments, their run to the FA Cup Fourth Round and a game against Sunderland at the Stadium of Light also generated sizeable extra funds.

KHIST chairman Geoff Coles recently replaced John Davies as the trust’s representative on Harriers’ board of directors.

A statement from KHIST said: “The Trust, together with our members, would have expected at least the medium term financial future of the club to have been protected, especially in light of substantial income received from a number of recent transfers and last season’s cup run.

“We would have expected more effective stewardship of the proceeds received during the club’s period of financial good fortune during the last 18 months.

“However we will continue to address supporters’ concerns, try to find solutions to this current situation and do what is in the best interests of Kidderminster Harriers Football Club.”

KHIST have secured the designation of Aggborough Stadium as an Asset of Community Value (ACV), which will create extra protection of the stadium from property developers under the Localism Act 2011.

The trust also called on fans to get behind the club for next Saturday’s home clash against Gateshead. As part of National Non-League Day, Harriers have cut ticket prices.

Comments (1)

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8:49pm Mon 1 Sep 14

stour67 says...

Maybe someone should look at the books to see where the moneys going.
Maybe someone should look at the books to see where the moneys going. stour67
  • Score: 1

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