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Page last updated at 07:45 GMT, Tuesday, 14 October 2008 08:45 UK

Imps 'financially sound' - Wright

Steff Wright
Wright has been chairman of Lincoln City since 2005

Lincoln City chairman Steff Wright insists the club will not be affected by the current global financial crisis.

The Imps are no strangers to financial trouble, having been forced to go into administration in 2002.

Wright told BBC Radio Lincolnshire: "We've paid back our loans over the past few years and aren't exposed to debts so we're in a strong position.

"Providing the economy of Lincoln stays strong, and I believe it will, I think we will ride out the storm."

It is estimated that the Premier League clubs alone have collective debts of around 3bn and three of Lincoln's League Two rivals, Rotherham, Bournemouth and Luton, were penalised at the start of the season for being in administration.

But Wright believes the Imps learned well from their own experience.

"Throwing money at a situation isn't always the best way to get results," he admitted.

"We put a lot more money into the budget six or seven years ago and had two dreadful seasons.

"We realised quickly that it's about appointing the right people and building the right fabric at the football club.

"Being cautious doesn't mean we're not ambitious, just that we've built on a sound base."

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see also
FA chief fears '3bn' club debts
07 Oct 08 |  Football
Quinn calls for league re-think
10 Oct 08 |  Bournemouth


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