2012-13 Accounts Reflect Squad Investment
The annual accounts for the year ending June 2013 have now been released by Yeovil Town and show a loss of £454,000.
This is the first time in four years that Yeovil has posted a figure in the red.
The loss shown in the accounts is largely related to an increase in costs sustained by the club in trying to, and succeeding in, achieving Championship football last term such as investment in the playing squad, but also unfortunately reflects lower than expected revenue from our Wembley Play Off final.
Chairman John Fry told the Official Site that he felt the accounts 'vindicated' the board's decision to back manager Gary Johnson in the dream for promotion.
'During our 10th Anniversary Year in the Football League the club achieved its highest position in it's 188 year history through promotion to the 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.'
Fry goes on to say that what the club achieved last season in terms of promotion was nothing short of a 'miracle' given the applicable resources available, and even our additional investment in the playing squad and the costs associated with such are miniscule in comparison to most, if not all, League One colleagues.
This is again where the proposed development of the Huish Park site should come in to it's own in terms of providing the club with a stable, regular and alternative revenue stream, and Fry describes it as 'absolutely essential' for the club moving forward.