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Story's £1.1m loan to Carlisle United written off

CUFC Brunton Park Credit: ITV Border News

Cumbrian businessman Fred Story has agreed to write off his £1.1 million loan to Carlisle United.

The loan was made from his company, Story Homes, during his time as owner of the club.

“I have obviously watched how the club has performed since I moved on and I can see they have hit a rough patch recently, with the relegation from League One and the run of results through the first part of this season.

“I have always said the football club is at the heart of our community and my intention, from the moment I walked into the building in 2003, was to help as much as I could to make it a success.

“At this moment in time I feel the best way I can achieve that is to waive the loan, with no strings attached, and hope that it provides the lift needed in all areas to allow the club to push on and get back to where we all want it to be.”

– Fred Story

“Fred has been a big supporter of this club for as long as I have known him and this, once again, shows how much he wants us to do well."

– Chairman Andrew Jenkins

“Fred took over at a difficult time and left the club in a fantastic position in 2008. The writing off of this loan will certainly help the financial position of the business and will, of course, take over £1.1 million off the balance sheet with immediate effect."

– Managing director John Nixon

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