Dagenham & Redbridge: Managing director Steve Thompson admits Daggers face liquidation if required funds are not found
PUBLISHED: 10:00 19 April 2018
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Essex club have been in financial difficulty since former director Glyn Hopkin ceased funding club
Dagenham & Redbridge managing director Steve Thompson admits the club is facing the prospect of liquidation if the National League outfit cannot raise the money required to stay afloat.
Daggers have been financially challenged since former director Glyn Hopkin ceased funding the club earlier in the year.
That led to the Essex outfit selling several key players, while John Still’s men also hosted Premier League side West Ham United in a fundraising friendly in March in a bid to raise money.
Thompson revealed the club are currently in negotiations with interested parties in investing in Daggers, but also confirmed liquidation was a possibility should they be unable to find the funds required.
“There are three different groups who are interested and have asked for more information, but I couldn’t say one is particularly advanced, which worries me,” he said.
“The directors have explored other options, including one I will refer to as ‘Plan B’, which requires us to raise around £200,000 over the next month to six weeks, then see about next year, but that will be tough.
“I’ve seen people asking why we haven’t set a crowdfunding platform up yet, but I think the money we require currently is more than what could be raised using that tool.
“If we do go down the route of ‘Plan B’, then we would be looking for the Full Members and the wider fansbase to help us.”
“At the moment, we’re not in a position to progress with ‘Plan B’, but we are working hard to ensure we can if we need to.
“If there are no investors and ‘Plan B’ doesn’t work, then the club is facing liquidation as there aren’t enough club assets for us to go into administration.
“Everybody associated with the club is working hard to ensure that will not be the case.”
Daggers play their final home game of the season against Maidenhead United on Saturday, and Thompson also paid tribute to the squad for their efforts in testing times.
“I’m amazed at the resilience of the playing squad and the management given what has happened.
“We’re a great club with a great history and tradition and everything is being done to ensure the club’s survival going forward.
“I urge all Daggers fans and fans of other clubs to come along on Saturday and get behind the team.”