More Financial Worries For Struggling Hereford United

CASH-STRAPPED Hereford United have claimed they need to find £300,000 to finish the Skrill Premier season and that administration is a possibility.

At the club’s annual general meeting on Monday, it was revealed the Bulls made a loss of £499,000 for the year ending April 2013.

Chairman David Keyte, who has said he will step down if a takeover can be agreed, said the club need £300,000 to see out the season and that auditors have “significant doubt” over whether the Bulls can continue.

If the club decides to go into administration, they would face a ten point deduction for this season if they do so before, it is believed, March 27.

With the club just five points above relegation, it could lead to Step 2 football for Martin Foyle’s men next season and a likely switch to part-time football. If the club enter administration after March 27, they would start next season on -10 points

The Bulls, who have had financial problems since their relegation from the Football League in 2012, also announced that their playing budget will be cut from the current £440,000 to between £200,000 and £250,000 for next season.