Mosman Rowers still well short of $150,000 target to stay afloat
NEARLY 150 years of tradition is set to sink with the Mosman Rowers Club still “tens of thousands of dollars short” in its bid to stay afloat.
Mosman
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NEARLY 150 years of tradition is set to sink with the Mosman Rowers Club still “tens of thousands of dollars short” in its bid to stay afloat.
Unless major contributions arrive ahead of a creditors meeting on August 13, the club will fall well short of the $150,000 it needs to raise to keep the doors open.
Club crusader and former vice-president Tim James is optimistic a last-minute saviour will come to its rescue.
“I believe there are still a few possible pathways to raise the money, but as it stands we are still tens of thousands of dollars short of our target,” he said.
“We need to emphasise that no moneys will change hands unless we reach our target.
“If the target isn’t reached then no pledge will be called upon and the club will close for good.”
Administrators Ferrier Hodgson were appointed to the “iconic” club in May and they have been working to resolve the bleak financial picture.
The club, founded in 1873, requires costly repairs and maintenance and has faced competition from newer, more sophisticated venues in the area.
Mr James said if the club survived administration the group behind the Bird & Bear brand, who transformed the Sydney Flying Squadron, had committed to enter a long-term agreement with the club.
“We now have a bit more time to hit the target (after a deadline extension) and there’s still hope,” he said.
To make a donation contact Mr James on 0411 422 555 or tim@timjames.com.au