Further finance injection into Preston North End from Trevor Hemmings

Trevor Hemmings has put another sum of money into Preston North End to help the Lilywhites meet their running costs during football’s shutdown.
Preston North End owner Trevor HemmingsPreston North End owner Trevor Hemmings
Preston North End owner Trevor Hemmings

Documents registered with Companies House show an issue of shares amounting to £1.1m.

Share issues involving similar amounts were also done in March, April and May.

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Hemmings, who has owned North End outright since 2010, always invests through share issues rather than cash gifts.

Cash investment is classed as debt but share issues are not, hence he is not saddling the club with more debt.

The share issues have become more frequent during the pandemic.

No games for three months has meant no revenue being generated at the ticket office, Hemmings’ input being the only source of income.

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During the crisis, North End have continued to pay all the players, coaching team and most of the staff in full.

Only a small amount of staff were placed on furlough with PNE making up the 20% difference.

Although some money will start coming in again through the matches Sky Sports show, empty stadiums mean no ticket revenue for the rest of this season.

It remains to be seen at what stage of the 2020/21 campaign are fans allowed back into grounds.