Furneaux: I Will Not Resign

By: Bill Osborne
Date: 13/07/2002

CHAIRMAN Peter Furneaux says the board will not plough any more cash into Grimsby Town telling the Grimsby Telegraph that 5 players will arrive at Blundell Park before the start of the season, but only if boss Paul Groves can slash the wage bill by £300,000 by offloading Danny Coyne and Phil Jevons

Although Fans have reacted angrily to the listing of Jevons and Coyne Furneaux said he will not resign and has again insisted the club will not be forced into administration and the club's debts will break the £4-million barrier next summer unless more cuts are made.

"I will not pack it in. I have always loved this club and I always will. These are difficult times and it has been caused by Carlton and Granada and the demise of ITV Digital. We have lost 55 per cent of our income in the shape of over £2-million.

"If we still had that, we would be in the black for the first time in a decade.

"The manager needs to bring in five players and one way or another it will be achieved by the start of the season in four weeks' time."

The Grimsby Telegraph revealed that Dudley Ramsden and John Fenty have loans totalling £850,000 in the club, but Furneaux says it cannot continue.

"The directors have said they will continue to support the club, but that they cannot support excessive losses or replace the lost 55 per cent of our income. The losses are considerable, and they cannot be sustained indefinitely.

"As the financial situation continues we are making unpopular decisions. We'll do whatever we can to ensure the club survives and if I have to make ones I don't like then so be it. There is no danger of the club going through."

Furneaux is still hopeful that the Town squad will compromise and reverse their decision to reject his pleas for them to wait until next April for their appearance bonuses.

"We understand that players who have got contracts are quite within their rights to want them paid. I understand why they've turned down our request but we weren't asking them to take a drop, just to wait until April before they got their appearance money."

The new Sky TV deal means Town will get £586,625 over the season. £200,000 less than the club had expected and, after a big payout of £211,000 in October they will have to wait 6 months before another cheque of nearly £270,000 arrives.

One ray of hope for Town is that Carlton and Granada reach a settlement with the league ahead of the £500-million compensation action being launched by the Football League.

Furneaux said "We understand that they are going to discuss a settlement prior to the imminent court case. The outcome of those talks will be more important to Grimsby Town than any other club in the first division."

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