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| Welshpool's financial future "uncertain" |
| Monday 24 January 2011 |
 THERE is growing speculation that Technogroup Welshpool is facing financial uncertainty, with an insider revealing that ex-chairman Michael Dawkins bailed the club out from his own pocket to stop them from folding, according to mywelshpool.co.ukRumours have circulated over the weekend that the Lilywhites' future hangs precariously in the balance and an open meeting is to be arranged between officials and supporters to address the financial shortfall believed to be caused by a sponsor’s delayed payment. The club denied to comment on the specific rumours but admitted that "a meeting is being arranged to discuss finances with supporters as soon as practical." An insider close to the club has lifted the lid on its problems and even suggested it could have gone under before Christmas without the intervention of its then club chairman. "We are very fortunate that Michael Dawkins has paid a significant amount of money out of his own pocket to cover the wages for much of the first half of the season," said the source. "If we were relying solely on our sponsorship money we would have folded long ago. We cannot continue to hold out for loans off individuals as we may not get the money to pay those loans back. "At the moment I am told we have enough money in the bank to pay three games guaranteed but forecasted income should provide funds for a further three games. "A big push on fund-raising would be required to meet the short fall for the rest of the season should the promised sponsorship money not show, but we feel we can meet current commitments by the skin of our teeth." Mr Dawkins stood down from his position two weeks ago but said he would still be a staunch supporter of the club which has endured a turbulent season. Chris Herbert is currently its third manager and has transformed its fortunes on the field with a new-look squad, but the Lilywhites, who were a Welsh Premier club last season, have been deducted 18 points for various offences and currently have minus nine. |