GLOUCESTER CITY have revealed they are now debt free.
The Conference North club have been struggling financial over the past six months after bad weather saw a number of their home games cancelled and they subsequently lost out on a great deal of revenue.
This left them owing money to their landlords Cheltenham Town and under threat of being evicted from the Whaddon Road ground where they play their home games.
However, a number of fundraising initiatives and a series of sponsorship deals have meant the Tigers have been able to pay off all monies owed and they can start the 2013/14 season in the black.
Speaking about the positive developments, club chairman Nigel Hughes said: “It has been remarkable to get to this point ahead of the new season fast approaching.
“Alongside this has been a desire to secure new sponsors, with their investment ring fenced for the season and more detail is still to be progressed with club personnel and lines of management drawn up.”
