Board Of Fifth-Tier Stockport County Insists Club Has No Money Issues

English fifth-tier football club Stockport County VP Spencer Fearn insists that "the future is bright despite rumours the club" had a £1.5M ($2.3M) debt, according to Gavin Browne of the MANCHESTER EVENING NEWS. With total losses of that scale in the last two years, the Hatters "have been embarking on a regime of cutting their costs accordingly." As such, County is "apparently on course for much reduced loss this time around" -- even if the board finds itself at the center of more financial queries. Fearn said: "We aren’t £1.5M in debt; there are loans to the club which are about £500,000 ($765,000) which are from shareholders." He added: "The losses were £850,000 ($1.3M) and then £650,000 ($995,000), so this year we’re hoping to get it around £100,000 ($150,000) and running Stockport County as a business, so we aren’t in any danger at all" (MANCHESTER EVENING NEWS, 2/20).