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Page last updated at 15:49 GMT, Wednesday, 29 April 2009 16:49 UK

Cheltenham reject council's loan

Cheltenham Town

Cheltenham Town have decided against pursuing an application for a £100,000 loan from Cheltenham Borough Council.

The Robins had applied for the loan after they narrowly avoided going into administration in February.

It now appears the club are in a stronger financial position after cutting their wage bill and finding alternative income streams.

A club statement said: "Although funds are low, cost-cutting and extra income means the loan is now not required."



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see also
Club's rescue loan placed on hold
31 Mar 09 |  Gloucestershire
Cheltenham set for council loan
19 Mar 09 |  Cheltenham


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