Re: A new low

By Gareth Coates (beano)12/1/2022 12:00Wed Jan 12 12:00:59 2022In response to Re: A new low

Views: 1328

"Please just accept the gates will never be padlocked; there will always be football at Wheatsheaf Park."

I sincerely hope you're right, Arthur. However, that surely depends on the relationship between the club / its owner and the owners of Wheatsheaf Park?

As I think has been discussed before, Staines Town Football Club Limited is technically insolvent, given that it has negative "shareholders funds" of more than £180,000. There is a note in the accounts that the Director commits to providing the requisite financial support but the company via which the club is owned - Fulcrum Sports Investments - has filed accounts suggesting it is "dormant" and has a share capital of just £100. This begs the question: how will that support be forthcoming?

Let's assume that, without a playing budget, the club's matchday income is enough to cover the key bills - match officials, rent, utilities, etc - which at least ensures its short term viability. This should be enough, for now, to keep the gates open. But what happens when the club's current lease expires? Will the Thames Club / Dowling LLP grant it a new one and, if not, what then?

What happens if the club is asked to make good on the accumulated losses (c£180k) and is unable to do so? If it goes bust (God forbid) then you are right that there are good people who bleed royal blue and old gold and would surely form a 'phoenix' club. But would that club be able to use Wheatsheaf Park and, if not, where would it play? Ashford have a tenant, Spelthorne Sports have about four teams using their ground and Lammas only have the grading for Step 7. After that, the club's looking at going outside the borough and even the County; it has survived such arrangements before but, without financial support, could it do so again?

If you cut me, I'd bleed tangerine and white but even as an exiled Ashfordian, I can only feel sadness about last night's result. STFC obviously has deep-rooted problems but I hope they can be resolved. It will take a long time to do that, though.