Harriers need cash to fund playing budget

The Aggborough club today launched an appeal for new investors in order to support this season's playing staff.

Chairman Ken Rae added the resignation of four directors has "substantially reduced" the club's anticipated funds for the campaign.

In a statement posted on the club's website today, Rae said: "We are looking for investors who want to share the journey with us to achieve our aim of getting promoted back into the Football League.

"If an investor wants an active involvement in the running of the club the existing directors would welcome them on board, so long as their aims and aspirations are for the long-term benefit of Kidderminster Harriers.

"Four directors have resigned from the club in 2014 and, unfortunately, that has substantially reduced new funds into the club.

"They were monies we believed were available to us when setting this year's budgets but have not, as yet, materialised."

Harriers currently have no controlling shareholder. Last month the club, announced it was seeking legal advice, after not receiving money it claimed was "contractually committed" by two former directors.

It later emerged the club's supporters trust had invested £21,000 to help the club through "unexpected financial challenges".

Finance director Joe Hancox confirmed the current playing budget is not sustainable without added investment.

"At the present moment the Club has no substantial debt, and at today's date has no arrears of PAYE or VAT," he said.

"However, new funds will be needed in 2014-15 if the playing squad assembled is to remain together for the remainder of the current season.

"The directors have known for some time of the financial challenge and are committed to continue taking whatever decisive actions are necessary to make the financial adjustments needed."

Interested parties are in the first instance asked to e-mail chairman@harriers.co.uk