Details released of Trevor Hemmings' latest investment in Preston North End
Trevor Hemmings’ latest investments in Preston North End have been detailed by Companies House.
There were allotment of shares in February, early April and late April, amounting to around £4m.
Investing via shares means debt is not incurred by North End and it is a common practice.
The money put in via shares by Hemmings will cover the running costs of PNE including the wage bill.
No fans having come through the turnstiles at Deepdale since March 7, 2020, has meant the loss of a big revenue stream.
So more money has had to come from Hemmings to cover the shortfall, with the share allotments becoming more frequent.
After last March’s pause in the football season due to the pandemic, there were five investments of capital via share allotments in 2020.
And there have been the ones just listed by Companies House to cover the first few months of this year.
It is understood that since June last year Isle of Man-based Hemmings has put in £13m, that including an amount for the purchase and refurbishment of the Euxton training ground last autumn.
There are months when a new allotment of shares isn’t needed by North End.
That would be when they receive solidarity payments which come from the Premier League’s TV deal and drip down to the EFL.
It is 11 years ago this month that Hemmings launched his bid to buy North End.
All being well, the Deepdale turnstiles will be clicking once again from late July onwards and PNE fans can end their exile from the ground.
Season cards went on sale on Monday, with loyalty discounts for those who held cards in the 2019/20 season and who bought them for the 2020/21 campaign – either carrying them over to this season or choosing the iFollow option.
North End hope to arrange a home friendly in pre-season ahead of the new season kicking-off on August 7.
Attracting a Premier League team to Deepdale might prove slightly easier now due to the Government’s travel restrictions.
Clubs who might have planned to go abroad during pre-season will have to stay on these shores as things stand.
Hence the possibility of them wanting friendlies closer to home as part of their build-up.
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