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MAGPIES: Trust calls for fans to get behind club
9:37am Wednesday 2nd October 2013 in Football
THE Dorchester Town FC Community Trust is urging supporters to stick behind the club in the wake of more budget cuts.
Saturday's shock FA Cup exit has left the Magpies no choice but to trim their wage bill even further, causing much concern on the terraces.
In a bid to calm those fears, the Trust has released the following statement:
"When the Trust was generously given their significant shareholding in the Football Club in May 2013, the Club had significant levels of debt.
"It owed £100k in Director Loans, £19k to Npower, and £42k in other debts. It also had a £9k overdraft, which was used to the full.
"A financial agreement was negotiated which limited any repayment of director loans. While in football terms this may be a relatively low amount of debt, it does represent repayments that needed to be paid.
"Although the 2012/13 season was incredibly successful in the FA Cup, the Club was still spending significantly beyond its means, subsidised by investment from directors. The Club was spending approximately £70k more than it was bringing in each year.
"Clubs regularly go into administration following periods of ‘boom and bust’, and the Trust is determined to break this cycle for Dorchester.
"The Trust’s vision for the future is of a community owned Club that only spend the money that it receives each year.
"This will inevitably involve a significant reduction in income in the first year as we no longer have the £70k subsidy, and have to repay a proportion of the historic debt, which is currently being addressed.
"In addition, the Trust understands that commercial and fundraising income are not being realised in line with the budget, and gate receipts are down, creating a further shortfall.
"To say the Club board, which is made up of volunteers who are putting the long term survival of the Club at the forefront of their agenda, have very difficult decisions to make is an understatement!
"The Trust has a vision of the future where the Club brings back the ‘Club’ element, with a supporter owned organisation run by supporters for supporters, living within its means.
"Although success on the pitch is important to all of us, this can’t be at the expense of the future of the Club.
"The Trust firmly believe that the Club needs to live within its means, and needs to develop a strong Club feeling, with all members working hard to get as much income in as possible to fund the team.
"The Trust understands that the Club Board ‘front loaded’ the player budget this year to give the Club the best chance of a good FA Cup run, and start to the league.
"Sadly, this has not transpired, and, in view of the many other financial pressures, they will now need to make severe cuts in the budget to ensure the Club is financially viable.
"The Club costs £130k each year in premises, office and other costs – costs which must be paid before a player is even paid .
"While the Trust understands that a return to private ownership may seem very tempting at the moment, it strongly believes that we, as supporters, need to hold our nerve and push forward with community ownership to ensure the long term survival of the Club.
"The supporters are key to the future of the Club. The Trust, and the Club, need your support now more than ever before.
"You are key to the future! Join the Trust, have your say, and between us we will make this work, with the Club playing at the highest level you are prepared to support. It is now up to us supporter’s to keep the Club going."
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