Folkestone Invicta: We can meet all our financial obligations for March, but then it will get very tough indeed

The board and management at Isthmian League Premier Division club Folkestone Invicta have issued the following statement.

 

“To keep everyone up to date regarding Folkestone Invicta’s
finances and plans during these unprecedented times, we can meet all our financial obligations for March, but then it will get very tough indeed.

With no income whatsoever, there are still monthly bills for utilities,
rent, basic pitch maintenance to prevent the pitch deteriorating to an
extent where we couldn't restart football, and these have to be paid
whether we are playing or not.

We are looking at every government initiative that may apply to us, but
please remember that there is always a longish gap, between an
announcement and implementation, except for delaying VAT and PAYE
payments, which are self-administering.

With initiatives like loans and deferring VAT and PAYE, we have to be
very careful not to accumulate debt that overwhelms us when football
re-starts. We are a not for profit organisation in all but name, so any
debt cannot be covered by future profits.

Everyone at the club is absolutely determined that Folkestone Invicta
F.C. will get through this if we all pull together.

In the meantime look after yourselves and your families, and we will
update you as and when there is further news.”

Visit Folkestone Invicta’s website: www.folkestoneinvictafc.co.uk