Derry hope for Europa cash boost

Tonight is a must win match for Derry City

Derry City chairman Pat McDaid has acknowledged that a European run this season would be a much-needed boost for the Brandywell club.

The Candystripes face Skonto FC in a Europa League first leg in Latvia on Thursday amid reports of financial difficulties at the Derry outfit.

McDaid acknowledges a "difficult current climate" but says all League of Ireland clubs are feeling the pinch.

"The long-term future of Derry City is in no way threatened," insisted McDaid.

"Football is not immune (from the current financial climate) and we have been experiencing a very, very difficult 12 months and that continues to be the case.

"Winning the match in Riga would be very helpful to the club in terms of the revenue it would generate.

"Our income is down on what was projected at the start of the season for various reasons, including fall-off in sponsorship and so on and the potential fall of the Setanta Cup.

"If your income is down, then your expenditure has to come down."

The Derry chairman acknowledged that club officials have held "several" discussions with manager Stephen Kenny in recent weeks to discuss financial issues.

McDaid admitted that the club's biggest expenditure was "on the playing side" although he indicated that press speculation of major wage cuts was premature.

"There's a variety of ways in which you can reduce your costs.

"The biggest expenditure in Derry City would be on the playing side so obviously it would be impossible to make reductions without in impacting on that in some shape or form."

Last months, the club lost two of its main sponsors, with the resulting loss of revenue likely to run into tens of thousands of pounds.

The club are now try to raise £50,000 by asking 50 companies and individuals to donate £1,000 each.