JIM Rushe has warned that Northwich Victoria will have to wait for their financial reward from this weekend’s FA Cup first round clash with Charlton Athletic.
Prize payments from the Football Association and ITV, totalling close to £100,000, will be deferred until after the club exits administration.
“We can’t spend what we don’t have,” he said.
“Nor can we miss it. Of course we need to make the most of the opportunity this game has given us but you won’t now see Northwich paying out huge sums to sign new players.
“Of course the extra money we make this week will help to pay off some of the club’s debt. Anything left over will be saved for a rainy day.”
Rushe revealed that he hopes to unveil a new, one-off shirt sponsor before the weekend. Most of the perimeter boards around the pitch should be sold to advertisers too.
He said: “People are really excited about the match and they want to make the most of the occasion whether that is by having a meal at the ground or paying for an advert in the programme.
“I’m pleased Northwich Victoria are getting attention for the right reasons. If we get beat [on Sunday] then it will be back to reality next week.”
Vics’ three wins in the competition to date against Bardon Hill Sports, Chorley and FC United of Manchester, are worth £24,500.
The victors on Sunday will pocket a further £18,000.
But FA Cup rules say Vics, who remain subject to a transfer embargo levied by the Football Conference last month, must agree a Company Voluntary Agreement (CVA) with creditors before they receive a cheque.
This week Rushe submitted an improved offer to HM Revenue and Customs to pay off a larger proportion of the club’s six-figures tax bill.
He expects a reply soon.
“We’ve upped our offer,” he said.
“Hopefully there will be some positive news to follow and and the club can finally exit administration. The tax man is key because the other creditors have accepted.”
Administrators Refresh Recovery Ltd will need to arrange a another creditors’ meeting to rubber stamp the proposal should the tax man accept Rushe’s latest offer.
Two others, one to pay off 25p of every pound owed to creditors and the other for 35p, have been rejected to date.
Rushe said: “We have to be realistic and not get carried away.
“People coming to use the stadium, whether that is to watch a match or to use the facilities here for any other reason, will continue to be our main source of income.
“The more people that do, the sooner we can clear our debts and start to plan for the longer-term.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article