INSTITUTE Football Club did not celebrate the New Year festivities, the Drumahoe outfit expected to announce further cuts to its playing budget today.
Already being run on what’s understood to be a ‘shoe-string budget,’ the Riverside Stadium has experienced a major drop in attendances this season, so much so that on a few occasions, the entire revenue generated at the turnstiles was paid to the match officials to cover their fees!
Add in the fact that match sponsorship and pitch-side advertising has also been hit during the current campaign, the club’s Management Committee was expected to officially announce the cutbacks at a meeting last night in Drumahoe.
Head of Youth Development, Paul Kee, alluded to the difficulties following last Saturday’s shock 0-2 defeat by North-West neigbours, Limavady United.
“The financial situation at the club is dire,” commented Kee. “And I think that played its part in the performance against Limavady.
“We certainly were not at ourselves during the game and the fact that the players had already been informed of cutbacks didn’t help our performance either.
“However, it’s a situation we must attempt to work through but I do believe players will be released as a result.”