UK time is: 21:25:14
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Chairman Dave Allen Concerned About Debt

Allen told shareholders: 'The club carries far too much debt, with loans of 7 million, which needs to be reduced. Ideally, we'd like to get the debt to around half that figure. I think the business could sustain a debt of about 3 million.

If Dave Allen hadn't have put his own money into the club, the team would still be playing at Saltergate which was haemorrhaging money because of low attendances. That didn't cover the week to week running of the club. Although its a big debt, there is money coming into the club from the hospitality.

The IT system is costing the club over 100,000 a year. Allen said: 'We went over the top with the IT system and that's something we're trying to address.'

Another way of bringing money into the club is by holding concerts in the summer, the Elton John concert was a huge success with around 15,000 people filling the Stadium. The club can make between 300,000- 400,000 thousand from these concerts. More are planned, it was hoped that Tom Jones would come this year, but he has no plans to tour until next year.

Allen also said: We've got to reduce operating costs. Chris Turner has succeeded in making some dramatic reductions but we have to be a selling club. Seventy per cent of money raised will go to reducing the debt and thirty per cent will go to the playing budget.'

Although despite of this the board have backed Cook in the transfer market allowing him to bring in Cooper, O'Shea, Brindley and Gnanduillet, and also give long term contracts too Lee, Darikwa and Broadhead.

Chris Turner also spoke by saying: 'We've got to find other savings in the next 12 months to keep things on an even keel. The St Johnstone's Paint Trophy win saw 350,000 coming into the club but there were 1,000 people not renewing season tickets for obvious reasons. It's a winning team that brings crowds back. We can't spend above our means so we do have to be a selling club. We have to produce our own players.

At least the board are being brutally honest admitting to making mistakes, and that they have to be a selling club. At least they are not gambling like some clubs have, they are living within their means which is very important in this economical climate.




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



Click here to join in the debate on the club forum.

The Journalist

Writer: Deano The Spireite  Mail feedback, articles or suggestions

Date:Tuesday January 29 2013

Time: 2:48PM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Chesterfield Articles

Archived Chesterfield Articles

List All Vital Chesterfield Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

League Results (view all)

Latest Results

League Table (view table)

Team P W D L GD Pts
1. Barnsley 0 0 0 0 0 0
2. Bradford 0 0 0 0 0 0
3. Bristol City 0 0 0 0 0 0
4. Chesterfield 0 0 0 0 0 0
5. Colchester 0 0 0 0 0 0
6. Coventry 0 0 0 0 0 0
7. Crawley 0 0 0 0 0 0

Breaking League News

DRFC Wellens the latest to join Rovers exodus
Doncaster : 23/07/2014 21:13:00
Green On Target Again
MK Dons : 23/07/2014 21:06:00
Convincing 4-0 Gills Win
Gillingham : 23/07/2014 21:03:00
DRFC Turnbull joins Barnsley
Doncaster : 23/07/2014 21:02:00
McLaughlin Moves On
Bradford : 23/07/2014 21:01:00

Current Site Poll (view all polls)

Hartlepool MotM
Suggested By:  Site Staff
Brown 0%
Brown 0%
McGlashan 0%
Jombati 0%
Deering 100%
Harrison 0%
Richards 0%
Noble 0%
Daniels 0%
Brundle 0%
Ihiekwe 0%
Sub:-Gornell 0%
Sub:-Taylor 0%