THE FUTURE of CLICO San Juan Jabloteh in the T&T Pro League is uncertain following last Friday’s announcement by the company’s executive chairman Lawrence Duprey, that the group had been plunged into bankruptcy due to the global recession currently being faced.
The Government has also acquired the company’s 55 percent shares in Republic Bank and has taken control of Methanol Holdings, CLICO, CLICO Investment Bank (CIB), CMMB and British American.
Yesterday, a member of the team’s staff who wished to remain anonymous expressed the view that the club is in real trouble.
The club which receives a support base from the San Juan Sports and Cultural Club has been solely dependant on the CL Financial group for survival, but it is unsure of whether the asset- rich Clico will be able to continue the sponsorship thereafter.
It is said that the club receives a monthly financial package of $350, 000 which is used to pay expenses, including players’salaries and other bills.
The Jabloteh club consists of the Pro League team, a reserve team, under-18, 16, 14 teams, a youth development clinic, women’s football team and two netball teams.
A reliable source also told Newsday that the pro-league outfit currently has about 50 people employed.
Jerry Hospedales the club’s chairman revealed that all attempts will be made to ensure that the club stays in the pro league.
“The club is 35 years old and therefore we have to look at ways and means of keeping it afloat.
“There are lots of people who depend on the club” Hospedales said. According to the Jabloteh boss, “Until we know exactly what is happening, then will be able to say what steps we can take to help the club.”
He added “We have to sit down and analyse the situation carefully.”
Meanwhile the T&T Pro League called an emergency meeting for tomorrow to try and deal with the possible exclusion of the club from the competition. Already the league has been struggling with the possible exits of Sangre Grande team North East Stars and St Ann’s Rangers.