The Reds board of directors have written to the club’s shareholders inviting them to the meeting on Thursday, June 1.
It is to be an open meeting, not just limited to shareholders, so supporters will also be able to attend and hear an update on the lease and other pressing matters.
The directors say: “Due to a lack of investment in the stadium infrastructure over a prolonged period, Borough Park now needs significant, regular spending just to be maintained as it currently is.
“The lack of modern facilities at the ground, combined with the financial burden it puts on the club, is restricting the progress we are able to make.
“In comparison with a number of other clubs playing at our level, we have few opportunities to increase our income, and as a result, the playing budget is limited.
“Regardless of the length of the lease, there is not grant funding available that would facilitate such an improvement in the fabric of Borough Park as to make it sustainable beyond the short term.
“To build on the recent positive discussions, we have had with the local authority over the past month there will be a representative from Allerdale Borough Council present.”
Next Thursday’s meeting in the Borough Park Social Club will start at 7pm.
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