FAN-OWNED AFC Telford United say they need to raise an extra £50,000 over the next two months but have stressed the club is “not in a terminal state”.
The Bucks, formed in 2004 following the liquidation of Telford United, have been struggling for cash with boss Rob Smith revealing his playing budget had recently been cut.
The National League North outfit are currently run by their Supporters’ Trust but say the ownership model must change to allow external investment to come into the club.
With rising costs and falling attendances the Bucks have struggled for cash flow and say while there is no winding-up petition currently against the club, they need to find cash to cover their creditors.
The Supporters’ Trust will hold a meeting next Monday and chairman Steve Bowyer expects fans to give the ownership change the go ahead.
A club statement read: “We have urged the Trust Board to enable changes to the ownership model of the club which would allow external investment.
“The club is not in a terminal state. However, we need to pull together now in order to avoid that possibility becoming a reality.
“We are now in a position where cash flow is extremely difficult. Income has fallen, particularly from gate receipts, and some key costs have risen.
“For the record, there is no winding-up order against the club nor are we aware of one pending. Players and off-field staff were paid on time at the end of September.
“Ideally, we need to raise £25,000 between now and the end of October, and the same by end of November. The primary way this can be done is obviously by generating as big a crowd as possible for Saturday’s game.”
