Redruth hope to avoid exodus of talent as debts are being paid
Redruth secretary Roger Watson admits some players could leave the club as it continues to struggle with cash-flow problems.
The National League Two South side held an open meeting this week to discuss future plans for the club in the current economic climate.
Despite profits of £40,000 last season, Redruth are still servicing debt in the region of £110,000, accrued over the past eight years.
This financial situation has forced the club to stop paying its players and although a number of senior players have reaffirmed their commitment, some could still leave.
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Watson said: "There are a couple who have intimated to us that if that the outside group's efforts are not successful, they are in a position where they need to earn some money on a Saturday.
"It may mean they have to move to another club who can pay, but I don't think there will be any wholesale exodus of players.
"A number of the senior players have already committed to us and said they would play for nothing, if it came to it."
The players were informed before their league victory over Shelford last weekend and Watson praised their efforts.
He said: "The players have been magnificent. They knew they were not going to be paid when they went to Shelford and we saw what they did up there. We are all just full of admiration for the players and the way they have responded."
A consortium, fronted by an un-named local businessman, hopes to generate funds to ensure players' expenses are met this season.
The club will also launch its own initiatives before setting a date for a second open meeting early in 2013.
Watson defended the club's decision to put commitments to its creditors ahead of paying the players.
He said: "As a club, we have to make sure that we honour our commitments to our creditors first. We have got some local creditors who have been very patient with us for a number of years.
"We are making sure we pay them first, rather than the players, rightly or wrongly. That is the decision we have had to take.
"As a business we have turned around the losses from the last eight or nine years and we will report a profit of around £40,000 for the year just gone and we will make the same sort of profit this year.
"The problem is the debts that we have to service. We have had to meet the players and tell them we can't pay them, in order to make sure the club is safe.
"Our total debt now, including the bank overdraft, which is guaranteed by the members, is £110,000. But 12 months ago it was £150,000, so we have certainly turned it around.
"Up until last season, when we started to make a profit, the previous eight seasons saw total losses of £239,000. We've actually made a remarkable turnaround in the last few years.
"It has been our philosophy to be open and honest with everyone and that is what we will continue to do. We plan to hold another open meeting in the new year to give people an update on what happens now."
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