Tonbridge Angels Insolvent Scenario
11.02.2021
Tonbridge Angels say that with the current scenario, the club ‘will find itself insolvent by the end of the month’.
Like so many, the National League South club are continuing to contend with a complete loss of revenue while supporters are absent from grounds on a match day.
The club have said as part of a statement today: “With no money coming in since December, and wages and overheads still to pay out, the club will find itself insolvent by the end of the month. The National League has been informed of this fact.
“The only clear direction would seem to be to bring the campaign to an end. This would allow players to be furloughed but even so, there would still be a challenge to meet overheads such as utilities etc.
“The only way suspension of the competition can happen would appear to be if enough clubs vote for that to occur, although that outcome is by no means certain. If the vote goes in favour of continuing the competition, then under league rules, we have to carry on playing.
“Some clubs have threatened to stop playing, indeed some didn’t fulfil fixtures last Saturday, but disgracefully, the National League warned clubs who refused to play that they would impose sanctions, despite the dire financial situation that they, the clubs, find themselves in.”
The club go on to add: “Should Tonbridge Angels engage with Sport England and seek a loan or grant? This has been sold by the National League as some kind of panacea to all the troubles in which its clubs find themselves – it isn’t.
“We have obtained the details, and basically, you can apply for a realistic sum of money to cover financial shortfall, but there is no guarantee of what you will actually receive, which makes budgeting impossible. Also, it is not clear whether the money will be in the form of a grant or a loan; it is likely that the majority of awards will be in the form of loans.”
Pic source: https://footballgroundguide.com/wp-content/uploads/2020/09/main-stand-longmead-stadium-tonbridge-angels-1563191864.jpg
Source: https://nonleaguedaily.com/tonbridge-angels-will-find-itself-insolvent-by-the-end-of-the-month/
