Reading a prog from Town v Bury in 1985...Town were just begining the period under Macari...crowds were low...finances dire,while reading the prog a page was put aside for then secretary Bob Jefferies for an incredible statement,it made sad reading then and begs the question are we still paying for it....here goes BJ,s Statement..remember this was in 1985
In 1971 following our success in the Lge Cup and promotion we decided to embark on building a new stand...the main reason being that the local authority had condemed the existing one.
In doing so the club were coerced into building a stand much grander than wanted as the council wanted it to fit in with there image of the New Swindon.
We borrowed at the time from the local authority £271,000 to be repaid over 40 years!
The initial annual payment was to be £16,000 per annum rising to £43,000 in the final year in 2012.
In fact the club in 1985 have already paid back £238,000 but the accuring interest has been crippling the club.
When the loan was taken out in 1971 the average crowd was 18,009...now (1985) it is 2,934 so you can see our task is an impossible one.
My suggestion is to make relevant payments based on the crowd average..if this is not possible lower payments over a longer period.
My wish is for us the club to purchase the ground and buildings.
I must emphasise we are meeting our day to day costs..the problem is the outstanding debt of £93,000 to the council and the £140 per day interest added(remember this was 1985).
I am sure every unbiased person will see that the club is in an impossible situation and the this problem must be resolved as soon as possible to the satisfaction of both parties.
I find this an really strange announcement at the time and its mind boggling to think that it was to be paid till 2012...ime sure with the comings and goings the debt has been resolved?...or are we still paying for it,anyone know....it was strong words for the club to be saying they were coerced by the council to build big....very strange indeed.
I was sorting out programmes from 1970 last night, Sunderland H i think.
Anyhow, there was a lot in that about the new stand being built, the supporters club were saying it was £18k per year to 2012 and that they would need to do a lot of fundraising to help pay for it etc.