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FleetFanatic

Chester City - champions but at what cost?

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Chester could owe over £3 million to creditors.

 

They may currently be top of the league but Chester City Football Club probably owe their creditors more than any other club in the Conference.

 

Their accounts to May 31st 2003 show that the club owes £2,313,405 to its creditors. This amount has risen from £1,371,621 the previous year. Recently Chester chairman, Stephen Vaughan, told the media that the club was losing about £65,000 per month.

 

Using those figures, it suggests that since May 2003, Chester have lost £750,000. When added to the debt already shown in the accounts, the overall debt figure rises to over £3 million.

 

Vaughan himself is the controlling party at the club. The accounts say that he is owed £858,071 for" transactions of a private nature."

 

The cost of Chester reaching the top of the Conference may have cost the club over £1.75 million over the last two years. Compare that to Hereford where the cost has been next to nothing.

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Still I remember there were calls earlier this season for Brian to step down and allow a sugar daddy (I think Gladwish was suggested) to take on to glorious heights for one or two seasons and then bankruptcy and demotion ala Telford where are those so called supporters calling for now.

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