Vital Football

Latest Chesterfield FC News

Chairman Dave Allen Concerned About Debt

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.



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

Writer:Deano The Spireite
Date:Tuesday January 29 2013
Time: 2:48PM

Login to post a comment

Recent Chesterfield Articles

FSF - Walking Away From Trouble

Many clubs do good work in reaching out to young offenders via their charitable foundations...

Football League 2017's Awards Begin

The Football League have confirmed that the 12th annual EFL Awards will take place on April 9.

IFAB Looks At Yellow Card Sin Bins

It's being reported that the International Football Association Board - the body responsible for law changes in the game - could potentially give...

FSF January 2017 Round-up

The first month of the year turned out to be a pretty significant one for the Football Supporters` Federation as we scored an early win by successfully challenging the police...

Archived Vital Chesterfield Articles

Vital Chesterfield articles from

Site Journalists

Write for Vital Chesterfield
Write For Vital Chesterfield
Apply Here

Current Poll (see more polls)

Bradford v Chesterfield
Suggested By:
Chesterfield win28%
Bradford win62%
Draw10%

League Table

# Team P W D L Pts. GD
1 Sheff Utd 33 19 8 6 65 24
2 Scunthorpe 32 17 9 6 60 25
3 Bolton 31 17 7 7 58 19
4 Fleetwood 33 16 10 7 58 15
5 Bradford 33 12 16 5 52 11
6 Southend 32 13 11 8 50 8
7 Millwall 31 14 8 9 50 7
8 Rochdale 31 14 6 11 48 4
9 Peterborough 32 13 8 11 47 4
10 Bristol Rovers 33 12 10 11 46 -2
11 Walsall 33 11 13 9 46 -2
12 Oxford 30 12 7 11 43 4
13 Charlton 31 9 15 7 42 7
14 Northampton 33 11 7 15 40 -4
15 Wimbledon 31 9 12 10 39 0
16 MK Dons 32 10 9 13 39 0
17 Shrewsbury 33 10 8 15 38 -11
18 Gillingham 32 8 11 13 35 -10
19 Oldham 33 8 11 14 35 -12
20 Bury 33 9 7 17 34 -11
21 Port Vale 31 8 10 13 34 -16
22 Swindon 33 7 9 17 30 -18
23 Chesterfield 32 7 6 19 27 -21
24 Coventry 32 5 10 17 25 -21
Write for Vital Football
Latest F1 News
Latest Vital Boxing News
The Vital Football Members League

Recent Chesterfield Results (view all)

Chesterfield Fixtures (view all)

Feb 21 2017 7:45PM : Millwall (a)
Sky Bet League One
Feb 25 2017 3:00PM : Oxford United (H)
Sky Bet League One
Feb 28 2017 7:45PM : Walsall (a)
Sky Bet League One
Mar 4 2017 3:00PM : Swindon Town (a)
Sky Bet League One
Mar 11 2017 3:00PM : Shrewsbury Town (H)
Sky Bet League One
Mar 14 2017 7:45PM : Peterborough United (H)
Sky Bet League One
Vital Football Comment