Re: No money in the kitty. -- St. Helens Town AFC Message Board

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Date Posted: 15:26:09 07/11/03 Fri
Author: John McKiernan
Author Host/IP: 195.8.175.117
Subject: Re: No money in the kitty.
In reply to: Baffled. 's message, "No money in the kitty." on 14:03:22 07/11/03 Fri

Firstly, I have not had confirmed the fact that JD and Peter King have resigned, but I too have heard other people say this and I would not be surprised. I met with John and Peter on Wednesday evening and explained to them that at this moment in time we are unable to fund a team as we have done over the past three years. Essentially, it has become evident that we could not continue to spend at the rate we have been doing. We have been told that the large amount of capital receieved from the sale of Hoghton Road has been eaten away rapidly, mainly due to the fact that we have become liable to 40% capital gains tax because the money failed to roll over into the new stadium. No-one can afford to lose forty percent of everything they have without needing to take action.

I explained to John and Peter that we had to make massive cuts and that any money spent of the players/staff would have to be raised not just spent from whatever we had. The reality is that no promises could be made with regard to any money being made available and at this moment in time we will not be spending anything we haven't earned/raised on players.

As for the College fullfilling our fixtures - this is just another example of the truth being bent to suit those who continually wish to knock the club.

It was always a long term intention that Town would join forces with in some way with the College - it has maybe not been in the way we would have planned in the medium to long term.

If it is indeed true that John and Peter have resigned I shall be taking the action that will see Town take on board major elements of the St. Helens College Academy setup under Paul Lodge and Alex Wright. This will possibly see Town as one of this seasons strugglers but the long term ambition is to have a system that will fund itself and provide talent for Town rather than lose it to other clubs as has been the case over recent years.

In addition, we shall continue to play our home fixtures at Knowsley Road, despite the rumours, as this is a mandatory requirement of our partnership with Sporting Club St. Helens.

Only time will tell whether this weeks decisions will make or break the club.

I'm sure this won't be the last comment I make on this matter but I hope this is the start of some sensible dialogue.

John McKiernan
Vice Chairman
St. Helens Town

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