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League Two

Exeter City forced into PFA loan

2 June 2014

Cash-strapped Exeter City have been forced to borrow money from the PFA to help play their players.

The League 2 side, who have been owned by the Supporters' Trust since 2003, saw attendances fall this season as they ended up in a battle to avoid relegation to the Conference.

That fall in gate income, coupled with declining season ticket sales this summer, mean City were forced into receiving a 'short-term, temporary loan from the PFA' on Monday, the first time they have done so since the Trust took charge.

A club statement read: "As we are all aware, Exeter City AFC Ltd is not owned and funded by any one individual and this means that finances are always stretched and 2013/14 was no different.

"However, we have also been adversely affected by match attendances being below expectations and a lower than anticipated uptake of season ticket renewals so the finances in the close season have been under pressure.

"As a result, the club received a short-term, temporary loan from the PFA on Monday 2nd June."

The news was announced just minutes after further details of the club's trip to Brazil this summer were made public. Over 100 Exeter supporters will watch Paul Tisdale's side take on a Fluminense Under-21 side on July 20 to celebrate 100 years since the Grecians became the first team to face the Brazilian national side 100 years ago.

But a statement on the club's official website reassured fans that the trip will be cost-free for the cash-strapped club once 'other income earning streams planned post tour' are factored in.

"The entire history making tour will not cost Exeter City thanks to a combination of sponsors, match income shares and other income earning streams planned post tour including a DVD of the tour and illustrated tour diary in limited edition book form," it read.

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