AFC TOTTON can make two giant strides towards survival in the coming days.
Testwood Park Limited (TPL), a new company set up to oversee the management of the debt-ridden Southern League club, are on course to agree a 99-year lease with the Testwood Stadium trustees by this weekend.
In the meantime Ed Holmes, managing director of TPL, is hopeful that negotiations about the unpaid wages owed to team boss Steve Riley and his playing staff will reach a satisfactory conclusion, enabling the Stags to remain a Southern Premier Division club.
Although it’s unlikely Riley and his players will get the full £47,000 owed, indications are that they will accept a proportion of the money and agree to stay on board.
All told, Totton’s overall losses have alarmingly soared from £58,000 a year ago to £185,000 – a sobering sign of how poorly the club has been managed – but Holmes is confident the creation of the new company will help “stop the rot” and find new ways to generate income.
He explained: “TPL is a community sports club which will be like a landlord to two subsidiaries – AFC Totton, which will remain a members’ club, and a new sports and social club, which will be a limited company.
“The trustees asked me to come in and help and, with the assistance of professional financial advisers, we’ve uncovered an enormous debt of £185,000.
“I’m not putting money into the club and I’m not looking to be paid anything other than out-of-pocket expenses, but I will be looking at developing AFC Totton as a business through the fabulous facilities they’ve got.
“But all that needs to be funded first. You need some fuel in the tank before the car will go.”
Jim Fallon, part of the failed consortium that previously came forward to save the club, supports the new rescue plans and will be donating money to help dig Totton out of their financial black hole.
“Jim is prepared to gift a sum of money to TPL who, in turn, will pay it to AFC Totton on the condition that it is paid to the players,” Holmes explained.
“Sponsors will only put money in if they see it’s a professionally set up organisation. And although Jim will not be involved with the football club in any way, shape or form, he will donate money provided TPL obtain a 99-year lease on the ground.”
Fallon has also agreed to be kit sponsor of AFC Totton’s Sydenhams Wessex neighbours Totton & Eling, where Holmes is currently chairman.
Totton & Eling recently set up their own management company, Miller Park Limited (MPL), to help the club forward and to meet the requirements of a 25-year ground lease from Totton & Eling Town Council.
If the TPL plans go through, Holmes will step down as Totton & Eling chairman.
Stepping in as interim chairman of AFC Totton is club president Mick Carter.
Holmes will seek FA advice on whether he can be a director of both TPL and MPL.
Either way, he would like the two management companies to work closely together and “pool their resources”.
