Rotherham United has financial strength to ride virus storm, says chairman

Rotherham United has financial strength to ride virus storm, says chairman

By David Beddows | 20/03/2020

Rotherham United has financial strength to ride virus storm, says chairman

ROTHERHAM United are better prepared than many to ride the financial choppy waters caused by the coronavirus, says chairman Tony Stewart.

The club has lost out on the income from the home game against Southend United last Saturday and a live TV clash with Steve Evans' Gillingham next Sunday during the intitial three-week suspension of professional football, yesterday extended to April 30.

And although, like other clubs, Rotherham still have to be pay the players and cover the overheads, sound financial management means it can cope for the forseeable future.

Stewart said: “We have tended to be prudent with our cash and we have spent in accordance with the business model we have. 

“We're healthy and that's all about running a business, whether it's football or otherwise.
“You have to prepare for a rainy day and guess what? It’s come around.

“We are able to do this due to our staff and manager. We are quite frugal, we always have been. We like value for money, it's that Yorkshire attitude and it doesn't go amiss in times like this.”

The 47 League One and League Two clubs told the EFL on Tuesday that they face an estimated combined loss of tens of millions if the campaign cannot restart before the summer and they have asked what assistance they may receive. 

The EFL will deliver a £50 million short-term relief fund to clubs hit by the coronavirus pandemic.

Added Stewart:“The EFL know that the clubs in League One and Two have to put cash flows and balance sheets in so they have a view how critical it is for certain clubs to go through this period. It is new for us all.

“I have experienced the three-day week and the Miners' Strike during my 50 years in business but I've never been confronted with something like this.”
 



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