Hereford United's financial crisis still deepening

HEREFORD United have posted a loss of more than £500,000 for the last financial year. And chairman David Keyte expects this season’s figure to be in excess of £400,000. The current tax bill outstanding is £78,000 and this has caused a further transfer embargo to be imposed on the club. The board are talking to potential investors but say that they need £300,000 by the end of May and a further £300,000 for next season to cover potential losses. Part-time football is under serious consideration for next season when the playing budget, which has been reduced to £400,000 for the current campaign, faces being slashed still further. More to follow...

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