Now that we have got the stand up and its looking
wonderful and Don has got theteam looking and playing like
a team that can win things and get promoted. We
then find out that Rovers are faced with total
liabilities of over a quarter of a million pounds, it has
emerged.<br><br>Figures released at a special meeting of club members on
Monday night show that Rovers liabilities stand at
£265,000, though officials are confident that the situation
can now improve.<br><br>With a radical cut in the
budget for this season already introduced, shareholders
were informed that team expenses and other costs in
2000/2001amounted to a staggering £291,000. <br><br>In a
comprehensive financial report, Rovers Assistant Treasurer, Mr.
David Rowe, explained that it cost £6,300 per week to
run the club within the season. The club’s total
income last year was £194,000 and the average gate was
£1,400.<br><br>Gate receipts and season tickets represented only
one-fifth of Rovers total income, Mr. Rowe’s report
added.<br><br>Difficult period<br><br>The Sligo Rovers Chairman, Mr.
Michael Leydon, described the nine months since the
club’s Annual General Meeting in December last as “a
most difficult period.”<br><br>Mr. Leyden revealed
that there were times when the management committee
seriously considered releasing former manager, Tommy
Cassidy, from his duties and letting some of the highly
paid players go. However, this was not an option, he
added.<br><br>“To buy out the contracts would have been a financial
disaster for the club,” the Chairman
maintained.<br><br>Meanwhile, the Assistant Treasurer said figures showed that
losses had increased in the period from 1998. The loss
in ‘98 was £17,000, compared to £45,000 in 1999,
£60,000 in 2000 and £97,000 in 2001.<br><br>A summary of
income last year showed gate receipts and season tickets
generated £40,000, sponsorship £36,000, while the major
source of income came from fundraising, which amounted
to £104,000.<br><br>Mr. Rowe said team, travel and
match expenses amounted to £259,000 last year, and
other costs brought the total expenses to £291,000.
Liabilities include committee loans of £57,000 and guaranteed
loans of £100,000, signed by members and other friends
of the club.<br><br>Rovers have forecast an income
budget of £182,000 this year, with the budget for
2001/2002 expenses agreed at £153,000 and £116,000 of this
going to team and travel.<br><br>“Our total budget had
undergone a radical cut, but we are beneath it at present
and if our figures can be achieved we hope to have a
surplus of £30,000,” said Mr. Rowe.<br><br>“I think we
reached a low point and from here the only way is up,” he
predicted.<br><br>Is this the end for SRFC as we know
it!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1