The club borrowed an unspecified amount from the Professional Footballers Association (PFA) last October and they are unlikely to be allowed to sign any more players until that money is repaid. Last year Exeter City sufferred a similar ban after they borrowed £60,000 from the PFA to pay players' wages. Swansea City are currently banned from signing players after they failed to pay players' pensions. However since the loan was taken out the Cumbrians have managed to sign three players - Brian Wake, Stuart Green and Phil Hadland. They currently have the largest squad in Division Three. The Cumbrians are believed to be suffering a cash-flow crisis although director Andrea Whittaker refused to elaborate when questioned by reporters. "Of course I am aware of it, but I'm not going to say anything about it until I've had a chance to look into it," she said. Brendon Batson, deputy chief executive of the PFA, said: "I cannot discuss the amount. That's a matter between the club and ourselves. Nor can I say when it will be repaid, although it will be a few months yet. It is highly unlikely that we would sanction any more signings, even loan signings, until the money is repaid. "We make loans when, for whatever reason, a club has short-term cash flow difficulties which they cannot solve through normal borrowing sources. We only lend on the basis it is to protect players' wages." The club's holding company, CUFC Holdings Ltd are known to have taken out a further mortgage on property on Warwick Road and in Derbyshire in the same month that the PFA loaned out the money. Before yesterday's match with Leyton Orient United had had no income for six weeks and missed out on a £10,000 TV payment when their away game at Hull City was postponed last week. |
