BUMPER BACKING BOOSTS BUOYANT STANLEY
ACCRINGTON Stanley believe they are set for a bright future after receiving substantial financial backing.
A new deal to clear £1.2m of old debt and secure around £600,000 in new working capital for the club has been agreed with local company What More UK Ltd, a leading supplier of plastic housewares.
The deal was finalised at a meeting of the club’s shareholders on Wednesday night and will put the Lancashire club on a secure financial footing for the first time in many years.
What More’s involvement with Stanley began earlier this year when they became the club’s new stadium sponsor.
The new refinancing deal means that founder Andy Holt and his company together hold more than three-quarters of the total shares in Accrington Stanley, making him the majority shareholder.
The 51-year-old said: “Part of me wanted to remain just a fan, but the businessman in me wanted to get involved and do whatever I could to help.
“Let’s be clear, whatever individual, company or other entity owns the club is largely irrelevant, because this isn’t a business venture.
“Has anyone ever made a profit out of Accrington Stanley? In 50 years I will be dust blowing in the wind – hopefully our input will mean the club is not!
“It’s about custodianship of the club, and I am just the latest in a long line of custodians who have kept Accrington Stanley afloat over the years.
“All that really matters is that the club keeps going now and into the future, and I will be doing my level best on the business side of things to make sure that happens.”
Manager John Coleman added: “There are exciting times ahead whether you are a member of staff, a player or a fan.
“There really couldn't be a better time to be at Accrington Stanley!”