It now looks like Athlone Town will still be a League of Ireland club next season after it was revealed at a meeting this week (January 5 ) that more than half the club’s outstanding debt has been raised in less than a month.
The balance must be raised by January 31 in order for Athlone Town to get its FAI licence to play League of Ireland football next season but at last Monday’s meeting club officials were confident this could be met and he hoped this could be announced at next month’s AGM on February 5.
The club, facing league expulsion over debts approaching €400,000, chose an innovative fund-raising scheme towards the end of last year that sought a €1,000 contribution over two years from fans.
Last Monday in the Shamrock Lodge hotel, it was revealed that already over 200 people have signed up to the rescue package by pledging the €10 per week required.
Players and management are still owed a total of €40,000 and this debt must be first to be settled for ratification with the FAI.
Patrons signing up to service the €400,000 debt have been assured their contributions will ony be used for this purpose and not for the day-to-day running costs of the club for next season.
The club hopes to cut next years’s running costs by 60 per cent on last year but will still need to find somewhere in the region of €250,000 to break even in the 2009 season.
At Monday’s meeting, the club revealed plans for a unique fund-raising match between the Town and a GAA All-Stars team, to take place on an as yet unannounced date in early February.
In return for the €1,000 (€10 a week ) pledge, patrons will get a season ticket for the next two years, free entry into the club’s weekly lotto draw and free tickets to any underage internationals played at Lissywoollen.
Appointment of a new manager for the first team will only be made after the €400,000 finishing line is crossed.
This compares remarkably well with the situation last year’s Premiership championship winners Drogheda United have found themselves in, with debts approaching €3m.
In August, the Drogs were the width of a post from eliminating Ukranian champions, Dynamo Kiev from the Champions’ League and now may no longer exist by the time this outfit takes on Arsenal in the last 16 of this tournament.
