Harriers predict financial black hole

Cash-strapped Kidderminster Harriers have predicted they face a £160,000 black hole if the club's financial crisis does not improve.

New bosses are set to make cutbacks and urged supporters to help claw back the cash at a packed meeting at Aggborough last night.

Harriers were bought by former chairman David Reynolds last month, who claimed the club were on the brink of administration and £250,000 in debt.

Chiefs are reviewing the club's finances and fans have been asked to help raise £50,000 to pay creditors.

And director Mark Serrell confirmed the Blue Square Premier outfit could suffer a shortfall between £140,000 and £160,000 by next May.

He said: "The shortfall is what is presently being predicted taking into account the measures we are planning to make at the moment.

"Obviously we are hoping this will change as more money comes in through planned schemes and with the support of fans."

But, despite the grim figures, Serrell pledged the new owners will do everything in their power to solve the problems.

He said: "There is a lot of work to be done but measures are being put in place to take the club into the future.

"We are asking the supporters to help us and to trust us."

Over 150 supporters quizzed the board on how the club had sunk into such a financial slump under former chairman Barry Norgrove.

Serrell blamed a lack of financial control of day-to-day expenditure under the old regime.

Meetings are set to be held with potential investors while Kidderminster Harriers Supporters Trust (KHIST) has also launched a new lottery to raise cash.

But long-time fan and former director Peter Fryer, 64, from Kidderminster, wanted to know how the club had got into the situation in the first place.

He said: "If money has been so much of a problem for so long why were not told about it before?

"I am sure most of us would be willing to support the club within our means.

"It is just a shock it has got this far."

Fellow fan Jim Price, 39, from Worcester, asked if players could be kept on for longer as most tended to be sold at the end of the season.

He added" "This continuity of players would perhaps keep fans coming in and put the team in a stronger position."