'Depressing' financial forecast leaves Ebbsfleet United considering their options
08:00, 22 October 2009
Ebbsfleet and MyFootballClub hierachy have discussed the possibility of selling the club amid new financial projections, which look "very depressing," according to the club accountant.
New figures from Graeme Swift – which he stresses are "worst case scenario" – show the Fleet face a deficit of more than £130,000 this season and is set to slip into the red by the end of the year.
Mr Swift says he doesn’t believe the current membership structure is working and added: "We do not have enough funds to see the season out."
He says the only three options left to members are attempting to attract more than 8,500 new members, revolutionising the membership structure to generate more funds or selling the club.
Mr Swift told members: "We are now approximately a third into the season, lying close to the bottom of the table and our cash flow...does not look good.
"It is obvious to me that the membership is not working for whatever reason. As it stands, looking at this, we do not have enough funds to see the season out – unless we are lucky with unexpected income such as cup runs etc."
Fleet vice-chairman Roly Edwards (pictured) said: "Everyone is aware of the cash flow forecast. We are all very conscious of what we have to do over the next couple of months.
"It is not nice having it hanging over us but people are working hard to put things right.
"There are various suggestions about what needs to be done but it can’t be agreed what action to take at the moment. This is the way that it is more difficult for a club in our position than at any other club.
"We need donations, new members, we definitely need to increase annual subscriptions. A proposal will be released in a week or two."
He admitted the prospect of selling the club had been raised but said he was "positive" a resolution would be found before that became necessary.
He said: "The potential for raising the money is definitely there. We were pledged £290,000 by members when we were asking about buying the ground. I can’t deny that the possibility of selling the club has been discussed. There are a lot of people who want us to survive and want us to do well.
"If we can’t do that, then I think the only option will be to sell it. We need to either raise the money or sell it. It is that simple."
Mr Edwards added: "I am positive it will be done. I think we will raise the money. I am positive the future lies with MyFootballClub."
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