The National League held a series of meetings yesterday with all clubs during which it was confirmed to clubs that the £11m package of financial support through Sport England for the period January to March will be in the form of loans not grants.

Whilst discussions continue between the National League and the Department for Digital, Culture, Media & Sport (DCMS), the National League asked clubs for their views on three options currently under consideration.

1. Individual clubs to apply for loans from Sport England with applications from clubs being assessed against strict criteria with loans repayable at 2% interest over 10 years with no interest or repayments for the first two years.
2. The National League to take a loan from Sport England which would then be distributed to clubs as grants. The loan repayments would be paid by the National League each year utilising central funds that would normally be distributed to clubs. The impact would be reduced central funding to each club for the duration of the loan. The process for distribution would be open and transparent with the detail yet to be decided.
3. Suspend the season. An immediate break in the season to allow clubs to access the furlough scheme with a decision on how to resume taken at a later date. Clubs experiencing financial hardship can submit independent applications to Sport England for support.

Chairman Jim Scott today held a meeting with local MP Matt Western to advise him of our concerns and the situation we find ourselves in and to seek his support in lobbying the DCMS on our behalf, for funding to be in the form of grants and not through loans. This he agreed to do and is a process that has or is being replicated at National League clubs across the country.

Last September the club agreed to the return to playing football on the basis that grants were available until such time as supporters were allowed to return to games. We were given assurances from the National League and FA that such funding would be provided although the detail for the period January to March 2021 was unknown at that stage.

Following a meeting of all directors last night the club submitted its’ response to the National League stating that we did not see individual loans to clubs as a viable option and would require clarification on the second option re the distribution model and future impact on central funding, before deciding whether we see it as a viable option.

Whilst this has been a successful season for the team thus far and there is a desire for a continuation, it does not make financial sense to continue playing behind closed doors with the dramatically reduced income streams and no grant funding. Nothing would give us greater pleasure than continuing to entertain you, albeit via live streaming, but we will not put the club into debt and risk our long-term security. We are a massive community asset that provides much to the health, well being and education of local residents and this must not be compromised.

We thank all our supporters and commercial partners for their continued support and will keep you updated on matters as they develop.

Jim Scott
Chairman
On Behalf of the Board of Directors