Kidderminster Harriers fans in £21k club bail-out

Kidderminster Harriers Independent Supporters Trust (KHIST) stepped in and agreed to invest £21,500 in return for a transfer of shares.

The crisis comes after the Harriers failed to secure additional cash from investors following their failed bid to win promotion last season, and two years after the club staved off administration.

An official club statement announced that following the failed promotion bid, not all of the investment it hoped to secure would be paid.

The statement said events during the last month meant that money 'contractually committed' to the club by certain directors for the 2013-14 season the 'events over the last month means that money that was contractually committed to the club by other directors to cover the trading performance in the 2013-14 season 'has not been forthcoming despite written assurances to the contrary'.

"Recent events with other clubs this summer has illustrated how difficult it can be to run a lower league football club and it is essential that the directors can rely on funding commitments made.

It added: "Therefore, notwithstanding any historical financial contributions, the failure to meet these most recent and, to date, unfulfilled commitments, which the directors had relied on in pushing for promotion last season, has caused unexpected financial challenges.

"The club remains very positive about the forthcoming season, and the directors are keen to achieve a speedy resolution in this matter."

The club says that in the meantime it is seeking legal advice.

As part of the deal, the KHIST board have invested £21,000 in the club in return for a transfer of shares.

The supporters' trust has also put forward an application to make the club's Aggborough Stadium a community asset, meaning that the building will be protected, but will have to pay for the club to be maintained.

A statement from the group's spokesperson, Abi Harper, on its website said: "The KHIST board has recently been made aware of a short-term cash flow challenge and of the circumstances surrounding that.

"The Trust is fully supportive and will work closely with the club in an effort to provide financial support and has invested £21,500 in return for shares. We have also taken steps to nominate Aggborough Stadium as an asset of community value."