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Mariners set for new backers?

The Central Coast Mariners have confirmed they are in talks with potential new investors for the A-League club.

The Mariners are the latest club to have fallen into financial trouble, with last season’s grand finalists struggling with ‘short-term cash flow difficulties’.

It is understood several members of staff and players had their salary payments delayed last week.

FFA boss Frank Lowy said he expects the club to make it through by securing a new backer and also suggested the Mariners may be provided an advance of their existing funding allocation.

In a statement released by the Mariners on Tuesday, chairman Peter Turnbull said: “We are renowned as the community club of the A-League due to our engagement with the people of the Central Coast.”

“I want to assure our members and our fans that the foundation principles that underpin our club are non-negotiable. Those very strengths are what have attracted the potential new investors.”

“To continue the growth of the Mariners we need to replenish our capital and that’s what the talks aim to achieve.”

“The Central Coast community is rightly proud of what the Mariners have built and this process is about making our house sustainable for the long-term.”

Turnbull said despite the current cash-flow problems, the club was on a ‘firm footing’.

“Our players and staff understand the situation and remain supportive of the club’s management,” he said.

“We are working with the FFA and have a sound business model in place. Our long-term vision for a diversified business includes the Centre of Excellence, the first stage of which sees the Soccer5s complex having its first open day next Wednesday.”

“Central Coast Mariners are in a good position. We are currently sitting second on A-League ladder and are about to enter our second stint in the AFC Champions League.”

“I have no doubt Central Coast Mariners will go from strength to strength and with the investment of new capital we will only become a stronger force in Australian football.”

Tue 29 Nov, 2011
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