Wivenhoe Town chairman Phil Reeve is confident in the club's financial future, despite recent speculation about monetary problems at Broad Lane.
Reeve said its board had met at the end of last week with representatives from the supporters' club and had a very fruitful discussion about the state of the Dragons' financial health.
In the last few weeks players have accepted a 20 per cent pay cut and there has been speculation among fans that some could be leaving in search of higher wages elsewhere.
But Reeve said he felt the financial situation was secure and those running the club had trimmed more than £5,000 from its liabilities in the year since he had taken over the reins at Broad Lane.
He insisted there had been no budget cuts at the club this season and the board had honoured a commitments to provide the sum of cash to the management team that had been agreed at the start of the current campaign.
The chairman said the board was trying to establish a stable financial base rather than over-committing itself with funds it didn't have.
Manager Steve Pitt said his players were not happy they had had to take pay cuts, but they accepted the club's financial undertakings.
More in today's Evening Gazette
Published Tuesday, January 11, 2005
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