How Do They Keep Going?

[Heysham Mike]

OK, not Exeter City, but could be of interest as it about another club in our division. £2m loss over three years. How do they keep going?

http://www.lancasterguardian.co.uk/news/local/morecambe-football-club-post-830k-loss-1-7939526

 

[AlanDevlin]

OK, not Exeter City, but could be of interest as it about another club in our division. £2m loss over three years. How do they keep going?

http://www.lancasterguardian.co.uk/news/local/morecambe-football-club-post-830k-loss-1-7939526

The answer is in there...

Mark Dixon, general manager, said in the report: “The company has traded at a loss during the year and has been reliant on the support of the directors in providing loans to maintain cash flow of the business.”

They just happen to have some people around who are prepared to loan in the almost certain knowledge they won't see their money again - Unless they get an almighty windfall, and even then there will be a fair queue of preferred creditors.

 

[davecg]

http://www.bbc.co.uk/sport/football/35996749

Oxford United posted a big loss as well, much easier to achieve results when you don't have to balance the books.