The latest accounts for Grimsby Town have been released this week and in our view make interesting reading.
On the face of it, a small profit of £59k is good news and is certainly in line with our objective of being self sustainable but bearing in mind this was our most successful season on and off the field for many seasons you can see the difficulty in being competitive on a sustainable basis. Even with extra revenue from TV and supporters (via Operation Promotion), we still spent less money than others, including the team we beat in the final, and credit must go to the management team and players for achieving the long awaited promotion. Now that we are back in league we do get additional revenue via the league but equally staff costs go up considerably and again to be competitive on a sustainable basis is very difficult. Thankfully our amazing support is holding very well and it looks like this season could be ok financially as well, but we also know how quickly things can change.
History shows that in a poor season a financial loss of £200-£300k or more can easily incurred at which point we are relying on directors to plug the funding gap or making dramatic cuts to budgets neither of which are desirable solutions. We are in no doubt that the only way to competitive sustainability is a new stadium so that we can unlock new income streams both on match days and on a day to day basis. Stephen Marley made the same point when he commented on the accounts and our new manager Marcus Bignott clearly refers to this when he talks about coming here for a “project”. The attraction of new and better facilities will certainly be a big factor in attracting players to the club. We need to really get behind the stadium project and we will shortly be appealing to everyone to contact councillors and local media to show support.