Statement from the Chairman
Wealdstone Football Club has today voted in favour of resolutions 1,2 and 4 in relation to the National League resolutions.
In relation to these resolutions the Board wishes to provide some context to supporters as to why the club has voted in this way.
As a club, we are very grateful for the support provided from various sources, including our supporters, to assist us financially in these unprecedented times however we do not believe it is appropriate for the club to take on debt to complete the season. As a Board, we have always resisted incurring debt, including Director loans, although given the exceptional circumstances we did make use of the bounce back loan scheme last Summer.
Financial prudence and stability is a core part of what the current board stands for and we are proud of how we have managed the clubs finances in recent years and the progress we are making to grow the club on and off the pitch. We have a fiduciary duty as custodians of the club not to jeopardise this hard work and progress we have made by taking on debt in order to continue to operate with virtually no revenue.
We, like others, clearly believed that we would be supported in covering lost revenues via grant funding until we were able to welcome supporters back to game. We continue to lobby for this outcome so we can complete the season without undermining the long-term future of the club. The club has now incurred close to two months of costs without any meaningful revenue and this cannot continue for further months if the club is to survive in a recognisable form.
We therefore do not feel it is possible for the Board to vote for anything other than ending the season whilst there is no clarity on future financial support and what form this may take. We are in the process of applying to the DCMS Winter Sports Survival fund to assess our eligibility and the level of loan funding that may be available however we reiterate that saddling the club with debt is something we will seek to avoid.