Exeter City faces new financial crisis after £200k fan-funded loan
Exeter City is grappling with fresh financial challenges after securing a £200,000 loan from its own supporters’ trust, Yahoo Finance reports. The club’s general manager has admitted past overspending and warned that further redundancies may be necessary to stabilize finances, according to Sam's Club news. The club has relied on emergency funding for the second year running, with a £400,000 loan last season triggering leadership changes, including the departures of chief executive Joe Gorman and chairman Nick Hawker. This time, the £200,000 injection comes directly from the Exeter City Supporters’ Trust. General manager Clive Harrison stated that previous spending had been unsustainable and that the club had set overly ambitious targets, forcing a reassessment of its financial approach. Both the men’s manager, Gary Caldwell, and the women’s manager, Abbie Britton, have now agreed to adjust expectations in line with tighter budgets. Harrison stressed the need for a more realistic financial model and warned that without further cuts, the club would continue to struggle with cash flow. Further job losses are now likely as part of this restructuring. The loan from supporters provides temporary relief, but deeper changes are underway. Managers have scaled back ambitions, and redundancies appear unavoidable. The club’s focus now shifts to long-term stability rather than short-term growth.
