Kidderminster Harriers chairman Serrell urges prudence

Kidderminster Harriers finished sixth in the Blue Square Bet Premier table

Kidderminster Harriers chairman Mark Serrell says last season's financial problems were a major reality check.

Harriers were within three hours of going into administration.

Serrell told BBC Hereford and Worcester: "We had already arranged to meet the insolvency people at two o'clock in the afternoon.

"It was only at 11 o'clock in the morning that we were in a position to take the club forward without going into a form of insolvency," he added.

While Serrell was not responsible for Harriers finding themselves in such a parlous position, he was very much in charge of charting their course out of it.

Harriers initially stabilised their situation to the point where they could guarantee they would complete the Blue Square Bet Premier season, but Serrell said the picture is now far healthier.

I don't think clubs should be spending more than they are generating within their income streams

Kidderminster chairman Mark Serrell

"There are no loans in the football club whatsoever - the paying off of the debts has been done by donations or by shares in the club," he said.

"It has made the club a stronger place as we haven't got any long term loans to pay other than a brewery loan [of around £65,000].

"The financial situation is certainly a lot better than it was in October but we are not out of the woods and we still need people's support," he added.

Despite Harriers' off-pitch problems, the side eventually managed a sixth-placed finish in the league table.

And although some fans have been calling for an increased playing budget in order to allow the club to better challenge for promotion, Serrell made it clear the new-look board will not be making the same mistakes as its predecessors and will only be spending what it can afford.

"I think we have proved you can compete at this level without having to pay the highest salaries," he said.

"Just because you do pay the higher salaries it doesn't always mean that you end up higher in the table.

"It's how you run your business and I don't think clubs should be spending more than they are generating within their income streams but that's up to individual clubs."