Ron's statement 1st October 2022
Chairman Ron Martin has issued the following statement.
I want to take this opportunity to address our committed fans on the recent financial developments this week. I share and understand your frustrations and hope the below gives some insight into our position.
The latest problem has arisen due to a delay in the programme. As result of this issue, we missed a payment under our Time To Pay Agreement with HMRC. This is the agreement we entered into (like many other clubs) following the pandemic, instead of taking a loan from the Premier League. Up to August, the Club, with the support of the group met the debt payments under the agreement.
HMRC have now cancelled the Time to Pay Agreement, which, given the current economic climate I believe to be premature, particularly given the agreement was due to finish in December 2022.
Bridging finance has been agreed, but has not yet been completed. Once it has (weeks not months) we will discharge the HMRC debt in full.
On the pitch the performances have been encouraging, behind the scenes the staff continue to work hard and the supporters have been great both home & away this season. The finances will be resolved soon, at which point we can continue on our upward trajectory.
Let’s get behind the boys today.
Ron
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I make that nine weeks Ron which is over 2 months.