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Financial struggle continues for Drogs & Harps

Drogheda United fans have given their club significant financial backing in recent months
Drogheda United fans have given their club significant financial backing in recent months

The New Year has brought little financial respite for a number of eircom League sides.

A Finn Harps shareholders meeting will be followed by a public information meeting in Ballybofey tonight.

The club is almost €300,000 in debt and has to come up with around half of that by 26 January.

Harps may have to revert to a largely amateur set-up and have only four players signed up for next season.

Last season, the weekly wage bill for players was in the region of €12,000 but the figure for 2009 could be anything between one sixth and a half of that amount.

Drogheda United officials are also expected to meet with some of the playing staff tonight.

Champions a year ago, Drogs now find themselves on the brink of extinction, with significant debts to creditors including playing staff and the Revenue Commissioners.

The club needs to show a High Court judge next week that it has raised in the region of €500,000 if it is to emerge from Examinership. The Louth club are thought to have generated approximately €200,000 in funding.

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