Wimborne Town could fold after revealing £100,000 debt

WIMBORNE TOWN have warned they could fold after debts of £100,000 were revealed at an emergency meeting on Monday night.

The Magpies were recently taken over by a consortium with former West Ham and Spurs boss Harry Redknapp joining as a director.

However, at a meeting last night which involved board members, manager Simon Browne, players and fans, they were told that the club are struggling.

New chairperson Paula Henley says some debts have been written off, leaving the Southern League South & West outfit with debts of £70,000.

The playing budget is set to be cut even further but Henley says everybody at the club will work hard to ensure it has a future.

“The debt was something I was aware of and I felt last night it needed to get out to the people of the club and beyond,” she said.

“I knew things weren’t great at the club – it’s Non-League and it goes with the territory. During the due diligence it became evident that there was more (debt) out there but I was surprised at where the figure ended up.

“A lot of the people in the room last night knew there were issues but not to the extent there is. I’ve been stunned by the initial reaction – there were people who had supported the club for 30 years and were coming to me with £10, £20 a cheque for £100 and somebody even gave me £250. They want to save the club.

“It’s 138-years old and it deserves a lot of effort to save it. There is a danger of the club folding but it’s not what we want and we have options.

“We could walk away or look at a CVA (Company Voluntary Arrangement) but nothing we’ve been doing so far suggests we want to walk away from anything.”