Next Game: Hitchin Town at Home on Saturday 18th November at 3pm

Tuesday, March 31, 2009

"No Objections" To Robins' Council Loan

Cheltenham's pleas to get a six figure loan from their local council have passed the first hurdle.

Yesterday's council meeting declared that there were no objections to the lending of £100,000 to the ailing football club. The loan would be repaid over ten years at commercial rates of interest, but the club will have to prove to the council that it has a viable business plan.

In a further effort to mortgage their future the Robins also intend to sell a limited number of multi-year season tickets to raise around another £30,000. It is a tactic that will also be used by Stockport, who today announced that they had met the months wages and paid a £125,000 sum to the taxman.

A statement on their official website thanks a number of clubs that the Hatters have had recent transfer dealings for their understanding. It is understood that the club have renegotiated the transfers of some departed players in order to get agreed staged payments handed over quicker to meet the taxman's demands. The statement says the next payment to the taxman is due on April 19th.