Chairman: “We’ve been left to fend for ourselves and sort out a loan”
Continued from back
“So I suspect someone has to answer the question why we were induced into going the route we have prior to the start of the season. I don’t know what the alternative would have been but the outcome now is we’ve been left to fend for ourselves and sort out a loan.”
Bosomworth says the loan is based on a two per cent interest rate and repayable over the next ten years with an initial holiday period.
“We’ve never borrowed any money and it does not sit comfortably at all. I’m certainly not happy, it is not a situation of our making and I suspect some clubs have taken loans to cover from January onwards.”
Town fans responded with fundraising ideas and donating nearly £2,500 so far.
“We’ve deliberately come out to say we’re looking to take out a loan rather than going out with, for want of a better phrase a ‘begging bowl’,” said Bosomworth. “The fans had previously rallied round the campaign for ‘Project Play-offs’, keeping the season going for the extra period plus we didn’t know when the next season was going to start. We’ve had people wanting to help, which we are incredibly grateful for. At the end of the day, it’s for the board to sort out how we’re going to deal with this situation. The fans have been incredibly good because there is a genuine understanding this is way beyond our control. It isn’t under our control at all and I hate it. I don’t mind trying to manage everything that you face in the normal life and times of a business or in this case a football club, we manage to find a way, but this is different.”
On the potential longerterm ramifications of the loan, Bosomworth said: “We have to make whatever decisions have to be made at the end of the season. We will have to understand what the landscape is, will fans be back in the ground, will we get the full support of sponsors who we are very dependent on, but who may also have had their businesses affected by the pandemic, what other influences may affect us?”
Discussions are taking place over manager Pete Wild and assistant boss Chris Millington’s future, with their contracts set to expire at the end of the season.
“Of course we want to keep Pete and Chris as long as we can agree terms,” he said.