Chester FC has announced it is in deep financial bother this week as it needs to raise £50,000 by the end of the month in order to meet the interest payments on a £5 Wonga loan.
The loan was taken out in November last year by one of the directors to buy a sandwich and a coffee while catching a Merseyrail train to Southport. Since taking out the Wonga loan, applied for via his iPhone while standing on the station in Ellesmere Port, the Chester FC director forgot to make the December payment and the interest has spiralled out of control.
While the interest payments of £50,000 on a £5 loan may seem steep to some, Wonga insists the interest is fair and is in-keeping with the economic demands of the country as a whole. It’s also quite low when compared to buying a TV from Brighthouse.
The club did think it was saved earlier today when it looked as though the money was raised, and then some. £150,000 was handed in to the club, but it turned out someone had just found a wallet in the car park belonging to Cestrian Michael Owen.
The former Liverpool scamperer has since collected his wallet, and was last seen heading to the casino.
If the club does not raise the funds in the next two weeks, the club would be forced to close.