City of Hull Boxing Club has now offically received the financial backing from the City of Hull Sport & Community Group C.I.C. it was confirmed today. The boxing club used to pay a minimal amount of gym hire to the community group who manage the building including the financial obligations such as electricity, gas and water etc.
However City of Hull Sport & Community Group have now agreed a 12 month extension to the club that will mean the boxing club will operate rent free until the end of 2021. The agreed deal is an extention to the temporary deal that was in place for the club since the Covid 19 lockdown meant that no subs were coming into the club.
City of Hull Sport & Community Group CIC Managing Director Mr Mike Gibbons confirmed that the deal was done and the club can focus on investment in the young people rather than worry about paying bills.
"The current climate is tough on everyone, but when you are running a club that is purely funded on subs or sponsorship and that income stream dries up, this puts the club under threat. We as community group that is run as a company are in a position to help the boxing club out and we are proud to do so.' Said the City boss.
"We froze the rent in March 2020 and set a zero rent until the end of 2020, however developments in the company meant we could extend this further through out 2021. It was always our intention to be strong enough to cover the costs of the building through the contracts and work we do, it took us a while to get there but we are now in a great position to help the club out and finally waver any rent or financial obligation for the boxing club.
It can now flourish and grow and hopefully get back on its feet, once the government allow the boxing club to compete again the kids will have a great gym, smart kit and will be able travel about. Meaning its very exciting times for all concerned." Finished Gibbons.