Championship side Halifax Panthers have revealed the extent of their financial woes after previously confirming they were at ‘immediate risk’.
The Yorkshire club have confirmed that they are in need of at least £200,000 before the end of the season to ensure that they can “operate sustainably through the end of the year”.
Crucially, £80,000 of that is required to pay an “urgent debt”, some of which is owed to HMRC as well as both player and staff wages.
It sheds light on just how severe the club’s financial difficulties are after they had released a statement the night prior confirming that they faced an immediate threat due to their financial situation.
The club’s initial statement had made no reference to the amount of money required but dubbed it as a ‘call for support’ in which they explained five ways that fans can help them navigate their position of “immediate risk”.
Now, the Championship’s tenth-placed side have provided more details.
Halifax Panthers reveal £80,000 in debts
Credit: Ed Sykes/SWpix.com
Sharing a statement to their social media and club website, Halifax Panthers would confirm the extent of their debt as well as what extra money would be needed to complete the season.
In a statement from their CEO, they posted: “We are aware of questions surrounding the club’s financial position following our recent statement, and we want to provide further clarity on both our immediate and long-term financial requirements.”
They explained the club’s ‘Current Financial Position and Future Sustainability’ further.
“At present, the club’s urgent debt stands at approximately £80,000, which includes essential payments to HMRC and operational costs such as player and staff wages. In addition to addressing this immediate debt, we estimate that a further £120,000 to £150,000 will be needed to ensure the club can operate sustainably through the end of the year. This will allow us to cover ongoing operational expenses and necessary investments to strengthen the club’s future.”
Outlining any long-term stability plans, the statement continued.
“We have comprehensive plans in place to ensure Halifax Panthers remains sustainable and competitive. This includes developing partnerships with local businesses, growing our supporter base, and creating new revenue streams through enhanced sponsorship opportunities and fan engagement. We are committed to building a financially stable future for the club, ensuring that we can continue to serve the community and our loyal supporters for many years to come.
“We greatly appreciate the generous support we have received so far and remain confident that, together, we can secure the future of Halifax Panthers. We will continue to keep you updated on our progress.”
It is expected that the club will complete their weekend fixture against Dewsbury Rams.
