Pools record hefty loss

PA Sport
Victoria Park

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Victoria Park

Hartlepool have announced losses of £1.4million for the year ending 2010 and continue to rely on their owners to stay afloat.

Pools, who announced their latest financial figures at this week's annual general meeting, have seen turnover for 2010 decrease to £2.64million, a fall of 11.8%, due mainly to a fall in sponsorship income.

Chairman Ken Hodcroft said in a statement: "The economic climate and unemployment appears to be going from bad to worse. This does not help raise income at the club. We are, of course, very grateful to everyone who had taken up our season-ticket offer and to all our sponsors."

He added: "However, with funds being very tight from the region as a whole, and from the owners [Increased Oil Recovery Ltd], the outlook for the next 12 months will be affected.

"This club puts a lot back into the community and beyond and we do need the support of the council and the local community. Now is not the time to deviate from that support."

The club also revealed its continued commitment to buying back Victoria Park from the town council and that owners, Aberdeen-based IOR Ltd, have invested over £13.3million since first becoming involved with Pools in 1997.

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