Post by yellowalf on Dec 2, 2014 12:19:52 GMT
Hayes & Yeading are in financial trouble and could go under within three months if they don't get £300k:
"Hayes & Yeading United fans are facing up to losing their football club in three months’ time unless significant investment can be secured. Chairman Tony O’Driscoll last night held an open forum with supporters to discuss the future of the club at their proposed future home at Beaconsfield Road in Hayes. Hayes & Yeading brought an end to their three-year groundshare with Woking this year and are now playing their Conference South home fixtures at Maidenhead United’s York Road."
www.getwestlondon.co.uk/sport/football/football-news/hayes--yeading-united-could-8191129
Amazingly, or maybe not given the footballing financial landscape of 2014, they are paying £1,000 per game to groundshare at Maidenhead. They need crowds of 300 per game to break-even yet so far this season are only averaging 267. Apparently, the £300k figure is what is needed to make the move to their new ground at Beaconsfield Road, Hayes. They sold their previous ground, Church Road, for £6.75m but had to pay-off £3m of debts and another £1m to Taylor Woodrow in order to extricate themselves from a contract, while the rest of the money has gone on the new ground and running costs.
Naming rights to Beaconsfield Road were sold to Sharda Glass, who unfortunately went into administration in December 13 and were bought by Consensus Capital Private Equity Ltd. The club are still owed money from that deal that, obviously, they will never get and that cashflow problem is one reason why work on the new ground has stopped.
Frankly, I'm stunned that a club at non-league level can run up debts of £6+m when they've only been in existence for 7 years!
"Hayes & Yeading United fans are facing up to losing their football club in three months’ time unless significant investment can be secured. Chairman Tony O’Driscoll last night held an open forum with supporters to discuss the future of the club at their proposed future home at Beaconsfield Road in Hayes. Hayes & Yeading brought an end to their three-year groundshare with Woking this year and are now playing their Conference South home fixtures at Maidenhead United’s York Road."
www.getwestlondon.co.uk/sport/football/football-news/hayes--yeading-united-could-8191129
Amazingly, or maybe not given the footballing financial landscape of 2014, they are paying £1,000 per game to groundshare at Maidenhead. They need crowds of 300 per game to break-even yet so far this season are only averaging 267. Apparently, the £300k figure is what is needed to make the move to their new ground at Beaconsfield Road, Hayes. They sold their previous ground, Church Road, for £6.75m but had to pay-off £3m of debts and another £1m to Taylor Woodrow in order to extricate themselves from a contract, while the rest of the money has gone on the new ground and running costs.
Naming rights to Beaconsfield Road were sold to Sharda Glass, who unfortunately went into administration in December 13 and were bought by Consensus Capital Private Equity Ltd. The club are still owed money from that deal that, obviously, they will never get and that cashflow problem is one reason why work on the new ground has stopped.
Frankly, I'm stunned that a club at non-league level can run up debts of £6+m when they've only been in existence for 7 years!
