Our financial situation remains critical, warns Folkestone Invicta chairman

FOLKESTONE INVICTA chairman Lynn Woods warns that the financial situation at the club “remains critical” – and that it must find £60,000 a year to meet its fixed overheads, writes Stephen McCartney.



This time last year supporters were toasting their heroes after they clinched promotion into the Ryman Premier League having finished second in the Ryman League Division One South table and holding their nerve with play-off wins over Leatherhead (on penalties) and Godalming Town in two nervy games at Cheriton Road.

Unfortunately, due to the club’s crippling financial situation, Neil Cugley’s side suffered a miserable campaign and were out of there depth, winning only five games in the league all season and as a result finished their campaign at the foot of the table with 27 points.

The club published the chairman’s report from the club’s shareholders meeting on its official website www.folkestoneinvicta.co.uk and the chairman warned that the club aren’t out of the woods just yet.

Mr Woods said: “It is obviously disappointing that in presenting my first report to shareholders and supporters as chairman, the club should just have suffered relegation from the Ryman Premier League.

“We all knew when we won promotion via the play-offs at this time last year that we would face a
challenging season at the higher level, and as things have transpired we did not quite have the
strength in depth to keep out of the relegation zone.

“However, I believe we can take a lot of pride in the way our young team have acquitted themselves against consistently stronger and more experienced opposition; and we will launch again in the southern division in just a few months' time much better placed for having this season's journey under our belts.”

Reflecting on the club’s financial situation, Mr Woods said, “There has been a general understanding and acceptance of the Board's preoccupation in recent times with the club's business affairs and it is of course as a business that we convene tonight in holding the AGM.

“I am greatly indebted to Jim Pellatt for his help behind the scenes in getting the club's finances computerised, and it is through that effort that we now have a much better grip on our income and expenditure from one week to the next.”

But Mr Woods warned, “I must be clear that the situation remains critical. Allowing for its commitment to the CVA, the club must raise a good £60,000 annually just to meet its fixed overheads before it pays anyone, and in times of economic downturn that is a challenge in itself before we start to think about investing in first team footballers and other paid staff.

“The good news is that the Board feels it has the measure of the club's business commitments and can operate in financial balance. The bad news is that this will mean continuing with a pretty miserly cap on the playing budget, requiring that we continue to look to our own youth section and to the local area for playing talent.

“It is also encouraging that we are winning some new advertising support from traders in the town,
and we hope that out of our new relationship with Embassy Management we will see a renewal of sponsorship interest over the next few months.

“On that note I should pay tribute to Nigel Busbridge, who has continued to provide invaluable help to the club with coach travel when his industry has been under severe recessionary pressure.

“Nigel has stepped down from the Board so that he can concentrate on his own business (Buzzlines), but he continues to support us via the away coaches and I am delighted to confirm that we therefore remain the Buzzlines Stadium.”

Mr Woods paid tribute to the legendary Bob Dix, who despite stepping down from the board has nailed his colours to the mast.

He said: “Bob Dix has also stepped down from the Board in recent months and I must not let this moment
pass without paying tribute to all he has done for the club. Bob's involvement with football at
Cheriton Road goes back to his days as a player and as a boyhood supporter before that, but over the last 20 years he more than anyone else has been central to keeping senior football going in the town following the demise of the old club.

“His investment in both time and money over that period is of staggering proportions. I think it speaks volumes of Bob that despite coming off the Board he has not backed away from any of the work he and Willie do behind the scenes, and he remains a wise and willing source of help and advice to the Board. He deserves our warmest appreciation.”

Looking ahead to next season, Mr Woods has issued a rallying cry for support.

He said: “Thanks are of course due to very many people who have helped to keep the club going through such gloomy times, and the danger in mentioning anyone specifically is that someone else feels
overlooked. So I will avoid personal thanks other than to say that the very many contributions to the club's function are all greatly valued and appreciated, and that with renewed belief and energy we really can look forward to better times for our club.”

Meanwhile, the club will revert to its iconic amber and black stripes next season – please can the shirt numbers have a black border around them so I can read them!!!

Article courtesy of www.folkestoneinvicta.co.uk