Another threat to Hamlet as Meadow stop payments

Bostik Premier Division leaders Dulwich Hamlet FC have today issued a statement explaining that their landlords and management company, property developers Meadow Residential, have withdrawn from paying all football related costs. This follows a recent court action between the developers and Southwark Council which appears to have scuppered Meadow's development plans for Champion Hill and the land around it; land which Meadow wanted to use to provide the club with a new home and to build 155 residential units.

Meadow have regularly stated that the club is financially unsustainable and can only survive with its financial support, but the club have disputed this, recently pointing out that gate receipts so far this season amount to 160% of the wage bill, and that they are unable to fully exploit resources like the bar and gym.

The club state, "We were told that as of November 1st 2017, all financial management and payments would revert back to DHFC Ltd’s majority shareholder and Director, Nick McCormack.

We have been told that as per the terms of our license, we are entitled to net profit from match day activities (after costs have been deducted from the turnstiles and the bar). However we have no say in the management, pricing or efficiency of the match day operations, therefore our profit is dictated to us.

On the 2nd of November, we sent a large list of concerns, and urgent questions to be answered to try and make sense of the situation, that have yet to be fully addressed.

We hope that Meadow and it’s subsidiaries will be forthcoming with information ASAP, in an effort to rectify what has been a very worrying period for the football club since their planning appeal was pulled after the greendale lease appeal was lost and ending Meadow's development plans.

We want to assure the fans, players, and all those associated with the club we will do all in our power, along with our partners at DHST and at Aspire, to secure a future for the football club that puts the community and club first.

The full statement can be read by following this link: Dulwich Hamlet FC website