Latest news with #AndrewHolt
Yahoo
20-05-2025
- Business
- Yahoo
Accrington to close academy despite council offer
Accrington Stanley have confirmed they will close their academy despite the offer of a grant by Hyndburn Council. The League Two club previously announced it would be forced to close the academy as a cost-cutting measure. That came amid a row with the council over the loss of revenue from the use of club facilities for non-matchday events after the council revoked its entertainment licence following noise complaints from neighbours. The council had offered to put forward the £140,000 which it said in a statement would "be the figure required to keep the academy operational for the next 12 months" but the club has now turned down that offer. "While we genuinely appreciate their offer, a detailed review of the club's financial situation and immediate challenges has made it clear that this support would not address the wider issues we are facing," a club statement said. "During these discussions, the club outlined its ambitions and financial responsibilities, particularly as we look ahead to the 2025-26 season. "After careful consideration, the board has concluded that continuing to operate the academy at this time is not a viable option, even with the council's proposed financial assistance." Accrington finished the 2024-25 League Two season in 21st place and eight points off the relegation places. That finish came as a row with the local council continued late into the campaign, with owner Andy Holt eventually saying he would step down from his position as chairman. He eventually agreed to continue funding the club by up to £250,000 per season. "The enforced closure of our function rooms, rising costs - such as National Insurance and minimum wage increases - combined with no forthcoming resolution to the club's planning issues have placed an ever-growing financial burden on our club and subsequently on our owner who is now in his 11th year of financially supporting Accrington Stanley FC," the statement added. "This situation has compelled the club to reassess its strategy for the upcoming season and beyond. "Despite Andrew Holt's continued generosity, the lack of significant revenue streams to offset these escalating expenses has left us with no option but to implement difficult yet necessary cuts."
The Irish Sun
12-05-2025
- Business
- The Irish Sun
‘The situation is grim' – Iconic EFL club facing financial oblivion after major issues ‘effectively shut us down'
ACCRINGTON STANLEY have confirmed they are facing a "grim" future amid serious financial problems. Stanley finished the season 21st in League Two - just two places above relegation. Advertisement 2 Accrington Stanley confirmed they are facing a "grim" future 2 Accrington Stanley are dealing with a dire financial situation But even though Accrington remained in the EFL, they are still facing some dire economic issues that forced them to close their academy last week. The club also lost its stadium's live music licence - except on matchdays due to repeated noise complaints. Now the Reds' chief executive Warren Eastham has issued a serious warning about the cub's situation and accused the council of providing nothing but "empty words of support". This comes after Stanley owner Andy Holt announced he would be stepping down last month. Advertisement Read More on Football Holt also accused the authority of a "vendetta" due to a long-running row over the club's hospitality suites built in contravention of planning permission. This situation puts the iconic club, who rose prominence thanks to an Eastham's statement to the 'I've made numerous phone calls, attended meetings, sent emails, and submitted countless support requests to both the council and their officers. Yet, despite all this, nothing meaningful has come of it. Advertisement Most read in EFL Latest 'I will, of course, gladly accept the meeting—one I've both requested and attended many times before. I've done my best to bring reason to the table, but all I've received in return are empty words of support. 'What we need now is action, not platitudes. I've warned repeatedly about the risks of Andrew Holt walking away, and now what do we have – a letter. 'I've been given a year to make the club sustainable but this cannot be achieved with temporary fixes. We need real, lasting change. This is a club that lost £1 million in the 2023/24 season, a deficit covered entirely by Andrew Holt. 'The 2024/25 season was only balanced thanks to the Liverpool FA Cup draw, but that money is now gone and the mounting costs from the summer remain. The situation is grim: the academy's March figures revealed a significant financial loss. Advertisement 'Broken promises' 'April shows no improvement, worsened by steep increases in National Insurance and the minimum wage across the club, including the players. Right now, Accrington Stanley has no revenue stream until July. 'The ongoing issues with planning, noise abatement, and licensing have effectively shut us down. 'Now, with the council's statement out in the public domain, I truly hope this marks the beginning of meaningful collaboration to safeguard the future of this fantastic club. 'Let me be clear: the closure of the academy is down to one thing only – a lack of income and mounting financial losses. Andy's position is clear: he will fund the club to a £250,000 loss next season, but no further. Advertisement 'After years of broken promises and a lack of appreciation for the £6million he has invested in this club over the past decade, he has reached his limit. This club belongs to the town and its fans. I will work tirelessly to ensure its future is secure. 'Accrington needs Accrington Stanley, and I am determined to see us through this challenging time.'
