Financial problems mount at Bognor
10:21pm Thursday 15th May 2008
The extent of Bognor's financial problems became apparent yesterday when the club confirmed they would not be paying players next season and then went cap in hand to supporters for donations.
General manager Jack Pearce admitted the Rocks could no longer afford to pay wages with the club more than £150,000 in debt and losing in the region of £1,500 a week.
It means the entire squad which helped them avoid relegation from Blue Square south last season are expected to leave with a team of young players taking their place.
Manager Michael Birmingham has already quit to join Gosport along with brother David, Chris Breach and Seb Wallis-Taylor are moving to Lewes with Dan Beck and Chris Greatwich expected to follow.
Pearce was hoping to bring in new investment to finance the team for next season but the long-awaited share issue has hit further delays.
Pearce said: "Unless things change very quickly we have decided that we cannot afford to pay any player wages.
"I have been warning of the dire financial situation of the club for a long, long time but now the chickens have well and truly come home to roost. "
The Rocks are hoping to raise £500,000 from selling shares in the club but have hit a stumbling block due to the lease on Nyewood Lane.
Instead Bognor are now asking for donations from fans which will be redeemable for shares in the future.
Club secretary Simon Cook said: "This may mean we cannot stay at this level of football over the next few seasons but if that proves to be the springboard for even greater success in the future then the pain may be worth the gain."