DIRECTOR Clive Holt has warned that Burnley Football Club's finances remain "on a knife edge".

Holt, the club's longest serving director, was speaking after being re-elected to serve a 20th term at last night's Annual General Meeting

And the club stalwart made a passionate plea for supporters to rally behind the Clarets as they struggle to cover losses of £20,000 per week.

"I have seen ups and downs in my 20 years here," said Holt.

"Today I am greatly encouraged and excited by the team and long may it continue, but unfortunately I have a big concern; how we find enough money to remain competitive?

"There is a continuing battle to provide enough money."

Holt, an engineer by trade whose remit saw him oversee the redevelopment of Turf Moor, added: "I hear the fans say 'where has all the money gone?'

"Easy. To buy and pay for a team!

"Remember there are no free transfers and we are still spending more than we receive. The shortfall has to be made up by directors and the chairman, by selling players or by a big cup run.

"It's very difficult and it is going to be on a knife edge over the next few seasons, so please can the fans, the town and the area as a whole, think what they can do for the club, not what it can do for me."