It’s been a rollercoaster of a ride for Jamie Waltham and North Ferriby United but his ownership has now ended.
Waltham has signed over 100% of his shares to Carl and Terry Chadwick of Chadwick Builders, who have acquired the ground’s naming rights as part of the deal.
Waltham told the Hull Daily Mail earlier, “The forms got completed and signed yesterday transferring 100% of the shares to the new owners. I no longer own the club.
“I am currently working for the United Foundation in India providing vulnerable children with a good place to live, so I thought it would be better with owners who can be hands on and give it their all. My location means I can’t do that. I could have but feel it’s better for people living in the same country.”
“I’ve no regrets because the job was threefold,” explained Mr Waltham. “Firstly to severely reduce the £5,000 a week plus wage bill whilst being competitive on the pitch. We achieved this because the club now operates on around £1,600 per week and that includes players, management, kit man, physio and ground staff.
“On the pitch the current regime picked up exactly twice as many points in the league as the last regime and a lot of credit must go to the excellent management as people in the game would have thought this impossible.
“Secondly we wanted to bring back the local pride on the pitch. We now have only three players and staff traveling from out of town. Again, credit must go to the management for having the guts to play untested local talent at this level.
“Finally, we wanted to make the club break even this season. We fell slightly short, with a lot of ongoing commitments from a good while back. We ended up around £20,000 shy which isn’t too bad considering it had been around £100,000 for the past two to three years.”
“The FA were very supportive and as expected confirmed there isn’t a great deal to be done at the ground to make it happen, process wise that’s right where it should be but I think the new owners may have different ideas to me,” he explained.
“There is no frustration from me. The financial job that has been done alongside the management has been great. I thought I could sort the finances out quickly and we did that as well as bringing back the locality on the pitch.
“Ferriby lost between £300,000 to £400,000 over the last few years and in six months we’ve reduced the costs to below a third whilst becoming better on the pitch. We nearly broke even and as long as the club sticks to this budget it will only make money moving forward. So Ferriby is in the best financial state it has been in for years.”