CHELMSFORD: City chairman denies club has cash worries

CHELMSFORD City is not a club in crisis and has no cash funding problems despite the decimation of last season's first team.

The Clarets have seen 10 experienced players leave the club since the end of the season as the playing budget has been slashed, and two more could be on their way.

But club chairman Mansell Wallace exclusively told the Chronicle on Wednesday: "There is no crisis either on or off the field neither financially or from the playing side. "We have trimmed our budget back like most other clubs have in the current climate but there's no crisis here.

"We had highly paid players here last year but that cannot be justified this year which is why those players have left.

"We're gearing up to re-build a team with a backbone and combination of experienced players and around those, hungry young professional players released by clubs at Football League level."

Wallace continued: "Glenn Pennyfather (head coach) and his management team are fully aware of this strategy and are happy working along within their budget to bring in the players we need.

"I think we will have a much stronger and better team and I'm not worried because I believe will have a team capable of promotion."

This boardroom confidence has emerged as many City supporters have openly expressed concern at the mammoth exodus of players together with a reported £2,000 cut in the weekly playing budget.

Some of last season's players had verbally agreed deals with the management for next season but following the close season budget cuts they were going to get less than originally anticipated.

The latest players to leave this week are midfielders Jeff Minton and Kevin James.

But a confident Wallace declared that the re-building was already under way adding: "Today (Thursday), we will be signing an experienced striker and a name many people will know and he will be on a year's contract.

"I also anticipate that within the next week or so we will bring four more new players on board and that will include a new experienced goalkeeper together with another defender, midfielder and forward.

"We are deliberately being patient because we want the right players.

"Also, with so much talent now available, following the PFA list of released players from Football League clubs, there are so many now looking for a club that you can pick and choose who you want."

Apart from integrating new, younger and ambitious players the club is also intent that the new look reserves side, which will compete in the Capital League this coming season, will be an integral part of the first team set-up.

Wallace explained: "The first team start their pre-season training on Thursday and eight of the primarily young reserve players will be training with them every session."

City's new policy is to have these younger players gaining first hand experience from senior players around them, such as the linchpin midfielder Dave Rainford who last week signed a year's extension to his current contract.

Top scorer last season he said: "I'm pleased to re-sign and am already looking forward to new season.

"I knew Chelmsford were a good passing side when I joined so I've had to maintain that part of my game as well because of how we play good football."