As we are all aware, the team’s exit from the FA Cup this past weekend has resulted in a number of players being available for transfer and/or loan moves. In addition to the recent poor start to the season on the field, off the field we have also incurred a significant decrease in budgeted commercial activity and feel that, with the team’s current form, it would be wrong to assume that attendances would increase enough to cover any current shortfall.
Therefore, it is with financial prudence that the board has decided to decrease the playing budget at this stage of the season as well as reducing other costs within the club, to ensure we do not incur any shortfalls within the club’s budget.
The board fully appreciate the effects of this decision and in line with keeping 'transparency' to its supporters, and feel it must make these decisions now compared to previous years where decisions have been delayed. The board have also acted quickly to ensure changes are made to the clubs commercial operations and have adapted its budget to take into account these enforced changes.
We hope supporters fully understand the decisions that have been made by the board, including input from the Supporters' Club Representatives, and we will be explaining the situation in more detail to company members at a forthcoming members meeting.