Sheffield Eagles chief executive John Whaling has reiterated that the club have enough funds to survive until the end of the current season.
With no buyer in place, fears have been growing surrounding the club’s financial position after month’s of talks have yet to result in a takeover.
Whaling has confirmed that he has assured the current squad that funding is there to get them to the end of the current campaign, but warned if a deal couldn’t be completed then the only alternative would be administration.
“Everyone will be paid on time, we are fine right through to the end of the season,” Whaling said. “With not finishing in the top four, we have a lot less money for next year and that’s a big problem. We will get through this season, no issue there, and I have said that to the players - they will be paid for what they are doing. That is a slight weight off our minds, but it is what happens if I don’t find a buyer.
“I have to be honest and say if we can’t find buyer then we will have to place the club in administration, and see if anyone buys it out of administration. If all these deals don’t come off, then we will be in a position when the money runs out, and then we would have to go into administration.”
Whaling still has just over a month to find a buyer, but has been frustrated at not being able to get a deal over the line, despite holding lengthy talks with two leading contenders.
Equally frustrating for Whaling is his claims that the Eagles are holding no debt, but with current chairman Ian Swire’s decision to leave, there is a financial void which the club are yet to fill.
“The club is not in debt, it is just that we don’t have the people at the moment to take it forward anymore,” he added.
“It needs some finance on a yearly basis, it always runs at a slight loss but we have always made sure that we pay the creditors and there are not a lot of clubs that can say that.
“It is frustrating that I have had two parties who have maintained a strong interest in taking over, but outside forces are scuppering it for me at the moment.”
Eagles host Dewsbury at Bawtry Road this weekend.