Athletic hit by double whammy

THE loss of two major sponsors will blow a huge hole in Athletic’s budget for the new season.

Hillstone Developments and Horners Motor Group have both entered into administration due to financial difficulties caused by the downturn in the economy.

And Athletic chief executive Alan Hardy admitted it is a worrying time for the Boundary Park club, especially as they have frozen admission prices for a third successive year.

He said: “There is a very difficult economic climate in the country and we have lost two major sponsors who have suffered financial problems and been forced to enter administration.

“It looks as though it is going to get tougher before it gets better and it is going to be a challenging period.

“We have held admission prices for a third year in a row so we are not getting more revenue through the turnstiles and we are also losing sponsorship.

“If that continues we will have to look at other ways of bringing in revenue.”

That suggests Athletic could have to reluctantly cash in by selling players.

Athletic’s owners currently budget to make an annual loss - it was about £400,000 before last season kicked off. But the sale of Neal Trotman and an FA Cup run helped the club’s finances.

Mr Hardy added that the owners cannot afford to increase losses and have to keep a check on the deficit.

Main club sponsors Hillstone Developments paid some of their sponsorship for the 2008/09 season before entering administration.

Some money - believed to be a sum well into five figures - is still to be paid and Athletic are resigned to losing that balance of the sponsorship.

Horners have sponsored Athletic for 10 years and currently have the main stand named after them in return for the provision of vehicles for staff.

That deal is worth up to £20,000 per year and Athletic will either have to find a new motor dealership as a sponsor or lease/ purchase vehicles themselves.

Mr Hardy paid tribute to both companies saying: “They have both been very good supporters of the football club for which we are very grateful. We are sorry to see them having financial difficulties which is a sign of the economy.

“We will have to make sure our performances on the pitch are such that they attract more spectators to make up the shortfall, though the coming season will be a massive challenge.”