Stroud Sport

Horsley seeks fresh investment

By Ashley Loveridge

8:40am Wednesday 17th March 2010

FOREST Green chairman Trevor Horsley has appealed for fresh investment after an initial share issue raised almost £100,000.

Rovers went from being a members club to a limited company last November, and at the recent inaugural meeting of shareholders, chairman Trevor Horsley issued a letter detailing their financial struggles. Absent due to business in the Middle-East, Horsley - who estimates he has invested more than £2m in Rovers, said: "This could not carry on indefinitely and now the company needs to search for new investment."

Vice-chairman Colin Peake added: "Everyone needs to recognise that the stadium complex, which opened in 2006, required additional funds to complete its construction and fitting out.

"These had in part to be financed from commercial loans, and the board had ensured that these were serviced. One plus side of the fall in interest rates was that the capital on those loans has reduced much quicker than anticipated.

"However, other activities in the company have had to be supported by the directors through personal loans. This could not carry on indefinitely and now the company needs to search for new investment.

"Adding to the overall downside is the bad weather since the start of the year, and the recent non arrival of Chester City for a scheduled fixture led to significant additional financial loss."

Rovers are appealing for volunteers with skills in sales, marketing and hospitality who can spare a few hours each month.

Peake added: "Whilst the playing budget had been reduced pre season, the financial income from other areas of operation had suffered greatly in the last 12 months.

"In hindsight, the priority has been far too much on footballing activities and now is the time for everyone to re-focus on the whole package that we can deliver for the local and wider community. Forest Green Rovers have some of the best conference and leisure facilities in the county, together with a first-class footballing pedigree.

"We must not waste the years of endeavour and commitment that has resulted in so much to be proud of."

At the meeting it was confirmed the current board of directors would remain in place until the first AGM of the Limited Company on May 20.

A further shareholders meeting has been set for March 18, while shareholders will be staging a fundraising dinner on April 9 to showcase the New Lawn facilities.

Anyone wishing to purchase a ticket should contact the New Lawn admin office on 01453 834860.

• Email this page