Following speculation into Rochdale Hornets' financial condition, the club has issued the following statement.

"Under increasing pressures from Her majesty's Revenue and Customs (formerly 'The Inland Revenue' and 'The VAT') a growing number of small sporting clubs are finding it increasingly difficult to meet their payment obligations. Rugby League clubs are no different and - Rochdale Hornets included - many people in the game work hard to help balance club's books and maintain competitive teams.

There was much coverage in quarters 3 and 4 last year of Hornets' financial situation and - with our Denehurst Park Stadium sporting partner Rochdale AFC - we did explore the option of selling the club's shares in that company.

But that was just one option explored. In consultation with the RFL - indeed, at their suggestion - Rochdale Hornets opted to take benefit of a loan from the Rugby Football league, repayable over three years. This capital injection means that the club can factor payments into future budget projections, that the club's HMRC obligations can now be met and that any winding up order is now invalid.

Over the last few months, Rochdale Metropolitan Council and the RFL have been hugely supportive of Rochdale Hornets and have been very impressed and pleased with the strides forward that the club has made off the pitch. Not only did they appreciate the board's continued commitment to Commercial and Community activities, they also recognise the business plan that has been applied for the last 3 seasons, whereby the club generates its own revenue rather than relying on directors' loans.

Both parties have reviewed the club's accounts and were satisfied that it is striving to meet - and achieving - the levels of commercial activity that make the Rochdale Hornets club now more self sufficient than it has been for many years."