Stafford Rangers announce financial strategy to become 'self-sustaining' club
Stafford Rangers have announced that the club must make moves to become self-sustaining, following years of borrowing from club directors.
The club announced that there will be no more loan accounts for directors, meaning that finances will only be supplied to the club from directors in the form of 'modest and infrequent' cash injections.
Boro chairman John Bromley, vice-chair Carol Bailey and director Reg Bates said in a statement:
"This football club can only succeed in the long term if everyone buys into the idea that it is a three-way partnership between the directors, the fans and the team.
"We cannot continue in the old way with the club only surviving because of the money loaned to it by its directors.
"We still have the legacy of indebtedness from that kind of management hanging over us.
"It is only thanks to the great generosity of the late Roley Tong who wrote off over £200,000 of loans that the club did not face the risk of extinction when he died.
"No healthy football club can or should need to survive just on the generosity of the directors. Long-term security can only be achieved if the community really wants and really supports the football club."
The board of directors have confirmed a three-way strategy that will be implemented in the medium-term, focusing on ensuring the club becomes self-sustaining, to substantially reduce historical debt and eliminate threatening debt, and to make ground improvements year by year, with one eye on ensuring Marston Road is prepared for National League football.
The club have already confirmed that 'steps have been taken' towards the goals of becoming self-sustaining and improving the ground.
It has also been announced that development to Marston Road will not be put into action if it exposes Boro to financial risk, as is the current strategy with the playing budget at the club.
Ground improvements planned for the next 18 months include re-surfacing the car park, replacing the away turnstiles and major refurbishment of the office and changing room block, including the mandatory provision of changing facilities for female match officials.
There are also plans to 'greatly increase' use of the social club to bring in extra funds, whilst Rangers have also confirmed that should weekly gates improve, club management will be given more funds to improve the playing squad.
