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Boardroom Statement

Posted: Wed 28 Aug 2013
Statement from the Chairman
“The Board of Stockport County Football Club welcomes the offer from former Vice-Chairman Spencer Fearn to write off his loans to the Club, in exchange for the remaining shareholders to do likewise.  I have already committed to do the same, because there is no doubt that the scale of this ‘debt’ is a deterrent to potential investors. 

“The statement from Mr Fearn also exposes the complexities of County’s funding arrangements - whilst some shareholders continue to invest in the Football Club, it is proving difficult to ascertain the intentions of other individuals.
“However, the Board of Directors remains committed to ensuring that the Club breaks even by the end of next season and our Chief Executive, Ryan McKnight, continues to seek out ways in which the Club can reduce its substantial overheads, whilst also identifying new revenue streams for Stockport County.

“The Club is also aware of a meeting proposed for this evening involving a group of County fans.  The Football Club has an open door policy with regards to our magnificent supporters and any group which has ideas or suggestions to take the Club forward will be welcomed to Edgeley Park.” 

Chief Executive Ryan McKnight said: "The Club clearly welcomes any move by the shareholders to write off their loan notes, as not only does this improve our balance sheet but also gives clarity on who is still able to contribute financially to the club. I personally would like to thank the Chairman and former Vice-Chairman for opening the door to this possibility and we look forward to entering into more detailed discussions over the coming days.
"The club remains committed to finding new ways to improve our finances and these gestures help a huge deal. I think it also highlights the reality that there is not a 'pot of gold' for any shareholder attached to the potential deal to reacquire Edgeley Park - the only beneficiary of such a deal would be the football club itself. "