FARNBOROUGH have been told they must pay a £30,000 bond in order to play football next season, The NLP understands.
The troubled Hampshire club have not had their place in the Ryman Premier confirmed, despite being listed in the league’s fixtures for 2015-16 last week.
On-going disputes regarding their CVA won’t be settled until this week at the earliest. But it seems the only way Farnborough will be able to continue is if they present the money to the league, who intend to safeguard themselves and their member clubs to avoid a repeat of the Hereford United fiasco in the Southern League last year.
However, the bond won’t be paid back when Boro – relegated from the Conference South last season – complete their fixtures in April.
Tellingly, the Ryman League say that the guarantee must remain in place until the first match of the 2016-17 campaign.
Boro chiefs are understood to be livid at the demand, with a risk the money may be lost should the complex CVA negotiations hit a stumbling block.
Creditors won’t vote to accept an offer of 1.56p in the pound until their playing future is decided. New Ryman chairman Nick Robinson refused to confirm the amount Farnborough have been ordered to find, but did admit a bond is being pursued.
Security
Robinson said: “We have concerns about the club’s ability not just to run until the end of the season, but to pay off its CVA. We are also concerned about a variety of things which have been said, but we had a very good discussion with (owner) Rob Prince last week and we would very much like to move forward.
“We are welcoming of all clubs and we want to work with Farnborough, but we have to protect ourselves and the bond is not a one-season thing.
“We’re not doing a deal, and we think having the money repaid at the start of next season enables security over the summer and may avoid damage to the Pyramid structure over the close season.
“Farnborough have provided us a cash flow forecast but we have decided we require a bond in place. We want them to compete in the Ryman Premier and help to ensure they don’t fold.”
The bond seemingly ends debate about the possibility of Boro being relegated to the Ryman South, but there is still a strong suggestion the club would begin the season with a points deduction, should the league’s conditions be met.
Manager Spencer Day, preparing for the opening day trip to VCD Athletic, said: “There are issues we still need to deal with and we can make no further comment until we speak again with the Ryman League next week.”
