Source: Team_Talk
Robins withdraw loan request
The relegated Robins have had much-publicised financial problems during what has been a difficult season on and off the pitch, and the loan was initially applied for to safeguard the club's future.[LNB]A vote was passed by the full council towards the end of March which indicated no opposition to granting the funds, although the payment had not yet been made. But the club's directors are now confident it is no longer needed.[LNB]A statement on Cheltenham's official website read: "Although cash flow remains tight at the club, the directors are confident the cost-saving measures they have undertaken, combined with some new alternative income streams which could not have been anticipated at the time of the original application, mean the loan is no longer required.[LNB]"The club would like to place on record its appreciation for the hard work and support of the borough council officers and staff who have been involved so far.[LNB]"It was certainly reassuring that the council's professional officers felt able to recommend the proposal to councillors. The club is also grateful to the town's MP Martin Horwood for his support and for the support of councillors from both the PAB and Liberal Democrat groups on the council."[LNB][LNB]
