CREDIT CRUNCH: We're struggling to cope, says one local chairman

THE CHAIRMAN of one local Blue Square Premier club has publicly admitted he is finding the going tough during the credit crunch, writes Stephen McCartney.

Whilst Kent club Ebbsfleet United are enjoying increased average attendances to 1,544, thanks to their FA Carlsberg Trophy success at Wembley Stadium last May, their rivals, Grays Athletic are the worst supported club in the division with average crowds of just 664 to Bridge Road.

That, coupled by the current credit crunch gripping the economy, has forced the Essex club to slash their wage bill and have told their players that they can leave immediately.

Three major sponsors have been forced to withdraw their financial support for the club and therefore the club have to announce some drastic economic cuts.

After an emergency board meeting, the club’s directors have started the following:

* The general running costs involved in providing overnight accommodation, transport and medical cover during the season will be greatly affected.

* Salaries paid to contract/non-contracted players and staff will have to be reduced. This would mean players salaries being cut by 50% from now. The club would, however, seek to repay the deficit at times when funds are available.

Players who are affected by the changes will be free to leave the club with immediate affect. However, the club will make every effort to minimise the disruption to training and preparation for matches.

In the statement, issued on www.graysathletic.co.uk, Grays Athletic chairman, Mr Mike Woodward, said: “I have nothing to hide. The whole country and many businesses and football clubs are in a state of uncertainty, living beyond their means, not knowing where money is coming from to pay employees wages.

“The club are making the players, the Football Conference, the FA and the general public aware of the situation now rather than waiting until the end of the month when wages and bills may not be met.

“I can assure everyone that creditors have or will be paid in full by the end of the month and you can rest assure that Grays Athletic Football Club will fulfil all fixtures for the remainder of the season.”

Visit Grays Athletic website: www.graysathletic.co.uk