Grimsby Town Finances next season.

After listening to Jason's interview on RH i was a little taken aback about what he said about our finances. He said if we stayed in the EFL they would be terrible and if we were relegated they would be catastrophic.
I just can't understand why they should be that bad. We have been promoted from the NL, had record season ticket sales, took good money in from transfers and had a cup run earning us over £1m.
Our financial situation should be pretty good unless we have overspent somewhere. Can anyone shed some light on what is happening?

I think he meant the different between the  money we receive from the league or conference .

Not the playing budget David will have to get a squad together.

It was also a dig at the PL not coming up with extra funding for the EFL and picking off the EFLs bargaining chips by doing this separate deal with the FA on the FA Cup. One wonders what trough has been put in front of the 4 EFL members on the FA committee. That’s what the FA deems as consultation with the all EFL clubs and below that participate in the FA Cup…

I also found his comments quite disturbing
He did mention I would be easier to entice new investment if we stayed in the league
But surely we are not in that bad a situation financially UTM

JS worried me with his comments about the finances, we have a sea of back room staff a new CEO coming in on 80k a year record attendance a higher sky payment and we are still struggling.
We must be paying massive money on some deadwood players which JS must of sanctioned.
We must be one of the favourites for the drop next season.

Quoted from Yoda

JS worried me with his comments about the finances, we have a sea of back room staff a new CEO coming in on 80k a year record attendance a higher sky payment and we are still struggling.
We must be paying massive money on some deadwood players which JS must of sanctioned.
We must be one of the favourites for the drop next season.

Predictable post from a predictable poster.

Maybe after last years pre season and saying we were loaded, he’s gone full circle 🤷🏼‍♂️

Stockwood has clarified that he was referring to the fact we are struggling to break even without additonal investment. Most clubs are in a similar position of having aging infrastructure, significant cost inflation, and a need to compete with clubs being funded by individuals to ridiculous levels. I doubt many clubs in the football league are anywhere near operating at a breakeven level.

It seemed to me to be a well timed (political) answer in light of the FA Cup replay controversy and the failure to agree decent payments for EFL clubs in the latest Sky sports package. And fair enough,

Quoted from aussiej

I just can't understand why they should be that bad. We have been promoted from the NL, had record season ticket sales, took good money in from transfers and had a cup run earning us over £1m.

All those things happened last year, with the exception of getting promoted which was two years ago. Money comes in & gets spent, people would (rightly) go mental if we had money just sat around gathering dust for the sake of the annual accounts.

Whether the club have “overspent” on anything is a matter of judgement, probably beyond you or I given we don’t know how much the club have spent on anything. Equally, maybe it’s a case of catching up on two decades of underspending?

This has been covered elsewhere but the owners have said they anticipated, and were prepared to underwrite, 6-figure losses for the first few seasons. For a couple of people who would be used to making decent profits every year I imagine a loss of any description would be viewed as terrible. There’s no doubt relegation to the conference would be catastrophic for anyone, nothing contentious about that.

Are there people who still believe that running a football club is profitable?
Fenty tried to be economic year on year and to balance the books.....yes we still have a club but it was pretty much on life support.

Quoted from moosey_club

Are there people who still believe that running a football club is profitable?
Fenty tried to be economic year on year and to balance the books.....yes we still have a club but it was pretty much on life support.

I think Pettit & Stockwood thought the football regulator was much closer than what realistically is probably the case .

They thought give it a year or two and the hyper inflated market would be improving and the club could be run at close to 'sustainable' whatever that means these days .

They will have to continue to prop the club up for the near term future at least , unless they can find investors which I get the sense they are finding harder than anticipated ; or at least getting 'the right one's ' on board .

It all makes for an interesting summer .

Already been discussed on a different thread and is very much a closed matter.

What’s clear to me is that we, as fans, need to do our bit as much as ever. Renew your ST’s - it just might be fun! Actually, I’m looking forward to it. UTM.

Club is always going to lose money as it only has one real revenue stream, match day tickets.

The ground doesn't generate anywhere near enough income in the other 330+ days a year.  Added to that the ground is also an absolute money drain.

Well pointed out that it is possible to run a club at a break even or even small profit margin.  But it's incredibly short-term planning and you're only heading one way with it.

Lot of hopes pinned on thinking smarter and the use of data. I'm not saying it's the wrong way (I think it's the right approach and we need a unique advantage) but it's literally all we've got.

Quoted from Yoda

JS worried me with his comments about the finances, we have a sea of back room staff a new CEO coming in on 80k a year record attendance a higher sky payment and we are still struggling.
We must be paying massive money on some deadwood players which JS must of sanctioned.
We must be one of the favourites for the drop next season.

I believe that when 1878 inherited BP it was and is still in need of major refurbishment. I could list them but have debated and chewed over them in previous posts. It shows the total lack of investment over the years by our previous owner in the Stadium and Cheapside.

What could have been done in the past for a few £k now costs £100k's. This impacts what could have been spent on player recruitment. We should be proud of what JS & AP have done for the club and us Fans. They took on a club that was looking as if it was going to the wall in the NL, have given it stability and a good base to build on. Rome wasn't built in a day and it will take years to put right what was not done with the previous owner.

The other thing is that we are not a vanity club like FGR, our new owners are from the Town and want what is best for the club. The future is looking good and it's Black & White.

Quoted from Bawmariner

Stockwood has clarified that he was referring to the fact we are struggling to break even without additonal investment. Most clubs are in a similar position of having aging infrastructure, significant cost inflation, and a need to compete with clubs being funded by individuals to ridiculous levels. I doubt many clubs in the football league are anywhere near operating at a breakeven level.

As much as I appreciate JS and AP stepping up and taking on the mantle of chairmen, if they were unaware of the financial commitments and general state of play regarding Leavue 2 clubs they shouldn’t have bothered. Hope it’s not a case of its sinking in how tough it is. I get the impression JS at least knows how to read the room so hopefully this is mostly posture and business acumen?