Dunny
21/12/2011, 9:42 AM
http://www.newrycityfc.com/Latest-News/Club-Statement
Statement from the Board of Newry City FC
The prevailing economic climate has affected Newry City FC like many other Irish League and League of Ireland clubs, the recent relegation has had a dramatic effect on income streams and as an immediate consequence the Board of the club significantly adjusted the club wage structure in the summer of 2011.
A further analysis of income and expenditure during the season to date has indicated negative monthly trading which has been sustained directly by the directors and sponsors of the club.
More recently key directors and sponsors have had to withdraw their financial support due to changes in their own financial responsibilities.
Based on this clear financial position the Board of Newry City FC have recognised that allowing monthly losses to go unchecked and accrue debt is financially, sportingly and morally irresponsible and as such have taken the proactive step of discussing and agreeing an almost complete wage budget reduction for players, management and administration.
It is testament to the commitment of all at Newry City FC that such a step can be taken together as individuals, as a team and as a club.
This act will, in both the short and long term, ensure the viability of Newry City FC as a senior club and as a focal point of soccer and community in the south County Down area.
All at the club remain committed to ensuring immediate promotion back to the IFA Premiership and while the players shall do their part on the field the directors and staff shall work closely with the IFA to ensure that all club licensing requirements shall continue to be satisfied.
The club shall actively seek new investment via both revenue and capital means. An example of this is the upcoming development in partnership with the IFA and FIFA to develop a full size 3G Football Turf playing surface on the main pitch.
This project will ensure that additional revenue can be generated in parallel with developing the best of local talent and also creating the opportunity for the Showgrounds to host local junior and youth football matches in order to build on existing good relations within the football and sporting family in the city of Newry.
Paul McKenna MCIOB
Chairman
Newry City FC
Statement from the Board of Newry City FC
The prevailing economic climate has affected Newry City FC like many other Irish League and League of Ireland clubs, the recent relegation has had a dramatic effect on income streams and as an immediate consequence the Board of the club significantly adjusted the club wage structure in the summer of 2011.
A further analysis of income and expenditure during the season to date has indicated negative monthly trading which has been sustained directly by the directors and sponsors of the club.
More recently key directors and sponsors have had to withdraw their financial support due to changes in their own financial responsibilities.
Based on this clear financial position the Board of Newry City FC have recognised that allowing monthly losses to go unchecked and accrue debt is financially, sportingly and morally irresponsible and as such have taken the proactive step of discussing and agreeing an almost complete wage budget reduction for players, management and administration.
It is testament to the commitment of all at Newry City FC that such a step can be taken together as individuals, as a team and as a club.
This act will, in both the short and long term, ensure the viability of Newry City FC as a senior club and as a focal point of soccer and community in the south County Down area.
All at the club remain committed to ensuring immediate promotion back to the IFA Premiership and while the players shall do their part on the field the directors and staff shall work closely with the IFA to ensure that all club licensing requirements shall continue to be satisfied.
The club shall actively seek new investment via both revenue and capital means. An example of this is the upcoming development in partnership with the IFA and FIFA to develop a full size 3G Football Turf playing surface on the main pitch.
This project will ensure that additional revenue can be generated in parallel with developing the best of local talent and also creating the opportunity for the Showgrounds to host local junior and youth football matches in order to build on existing good relations within the football and sporting family in the city of Newry.
Paul McKenna MCIOB
Chairman
Newry City FC