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FINANCIAL RESULTS RELEASED

PUBLISHED

13:53 18th February 2014

Financial results for last season's trading have been released by the Yeovil Town FC board. 

The final accounts show a loss of £454k which was largely attributed to the increased costs on the playing budget incurred by the Club in achieving Championship League football, combined with a less than anticipated revenue from the Wembley Play off final.

Commenting on the 2013 Company Accounts Chairman John Fry said "The accounts, although showing a substantial increase in the costs of the playing budgets, are a vindication of the directors’ decision to back their manager Gary Johnson to build a team capable of promotion to the SkyBet Championship. 

“During our 10th Anniversary Year in the Football League the Club achieved its highest  position in its 118 year history through promotion to the SkyBet Championship. 

"When I first joined the YTFC board back in 1993 nobody believed that the Glovers could ever aspire to the top tier of the Football League. But we have, and now we must do our best to keep the dream alive against some of the "Giants" in English Football. 

"On very limited resources, what my Football Management team, players and staff achieved last season was nothing short of a miracle and it will be an even bigger achievement for the Glovers to retain their Championship status this season on the resources that Gary has to work with. 

“Therefore realising the development potential of the Huish Park site to generate new revenue streams has always been one of our main strategic pillars and for the Club to have any chance of maintaining its position in the top tier of the Football League, it is now absolutely essential for this objective to be achieved.

Chairman Fry added “ It will require strong and visionary leadership from our local councillors to support our Huish Park Planning Application that is to be determined by the SSDC Planning Committee over the coming months  There is no doubt in my mind the future of one of the Town's prize assets is now in the hands of the local councillors and decision makers.

“Finally, I would like to thank all Glover fans, sponsors and main stakeholders for their continued  support of our great Club"