By Clarence Rode
December 3 2008

Hartlepool United chairman Ken Hodcroft says the club is in a strong position for the long term, but will need support to overcome the current economic downturn. in his report for the club's annual meeting, he says there has been an operating loss, but adds that owners IOR believe their investment will deliver long-term benefits.

In his report, chairman Ken (right) says the club has continued to "make progress along the lines we expect. We believe we are in a position to remain in League One ... and are ready for a play-off place, given the opportunity."
He does NOT say whether the club is ready for a battle against relegation.

KEN'S FULL STATEMENT TO THE AGM IS ON THE CLUB WEBSITE. 
(Mind you, it's ten pages and might make your brain hurt)

 He adds: "Gradual progress throughout the club is, we believe, the key to long-term success. However, the current economic climate will restrict spending on players, the football department in general and club facilities."
He reports that turnover in 2007 was down 6% compared to 2006, though gate receipts and money from the Football League actually rose. The wage bill increased by 24% after promotion from League Two.
Pools had an operating loss of £1.6m compared to a loss of £649,000 in 2006, and in the 11 years since taking over the club IOR have now "invested" £9m.
It's clear that without IOR Pools would probably have gone bust by now and might not even exist.
King Ken adds: "Due to the economic downturn we will focus on the squad we have with possibly one or two players."
It's not clear what he means here - does he mean "one or two added players", in which case does he mean on loan or signed on a longer contract?
He goes on: "I believe we can still look forward to the future with optimism and the club remains in a strong position for the long term", though he adds: "Lower crowds are a concern.
"We believe the investment the owners have made in all areas of the club will deliver long-term benefits ... however it is important that the owners are able to purchase the ground lease from the council (negotiations resumed in November).
"Patience is needed to gain further success. HUFC is entering the next 100 years in a positive frame of mind and the football club has never looked more professional both on and off the field. We have a football club the town is prouid of, but we realise that we must continue the good work if we are to progress even further."
Meanwhile, first-choice keeper Arran Lee-Barrett (right) has been banned for three games after telly cameras at Fleetwood caught his elbow apparenrly aimed at a home player after the keeper was fouled as he went for a high ball.
So much for getting your game on the telly. Jan Budtz will probably get a chance now hoping to be able to rescue a season which, for him, hasn't really started yet.