Council to dig into reserves to find £110K for Racing Club

Warwick District Council’s executive will discuss recommendations for the football club on St Mary’s Lands on Wednesday which include approving investment to support its latest business plan.

Members are urged to increase the £75,000 of public funding promised back in September by another £35,000.

The extra money will ensure the club has enough funds to apply for £50,000 of matched funding from the Football Association to pay for upgrades.

The council, which owns and leases the land, will finance the spend via its contingency and emergency budgets.

But members are advised not to release funds without “satisfactory evidence” of good management by new trustees.

Council leader Andrew Mobbs said they were committed to going the “extra mile” to help Racing Club reach its goals for growth and development.

He said: “This is an important space and we appreciate efforts by the new management to create a community hub.

“The figures needed to attract FA funding simply are not possible for the club to reach alone. Sadly, our own financial pressures mean there is a limit to what help we can offer.”

A council report reminds members of the “financial pressures” it is under and states: “The council has flexibility to choose how it uses its reserves, which may be towards the continued provision of its own services, or alternate schemes such as this.”

It states that not supporting the bid could put the club’s future in jeopardy - a move which would also have “far more risk and financial consequence to the council” which would have to manage the site.

The proposal is the latest in efforts to rebuild the long “negative relationship” between the council and club, which is backed by new Racing Club Warwick chairman, Gary Vella.