Shropshire Star

Shrewsbury Town's £285,000 loss is revealed

Shrewsbury Town recorded a six-figure loss last year as the club was relegated from League One.

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Chief executive Matt Williams confirmed the club incurred losses in the region of £285,000 to shareholders at the club's AGM yesterday.

"These are the figures for the 2013/2014 season which saw the club lose a significant amount of money in the wake of relegation," he said.

"I think it dispels the myth that the board of directors didn't support Graham Turner and then Mike Jackson in the transfer market.

"Regardless of what happens this year – promotion or no promotion – we will also lose a significant sum of money. But the board believes that was the right course of action to get the club back up at the first opportunity – that was everyone's brief."

Despite the losses, Mr Williams praised chairman Roland Wycherley and said the club is still in a strong financial position thanks to the money it has in reserves.

"Financially the club is doing well," he said.

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