Latics handed another cash problem

21 May 2012 02:57
Pension deficit means club have to find £100,000

A new pension bill sees Athletic being dealt with a new financial blow. The Latics have to find £100,000 which will go towards a shortfall in the Football League's pension scheme. Combined with a loss of £250,000 a year in television revenue it puts even more pressure on the already cash strapped club.Chairman Simon Corney said, “We face having to find over £100,000, which has come as a great shock as it goes back over 20 years and relates to previous managers, directors and staff. It amounts to one quarter of the money raised so far from season-ticket sales and is a massive blow to deal with. The letter has shaken me and it will have a big impact having to find this sum of money. The agreement was entered into when Latics were in the Premier League and it concerns me greatly.”