Stevenage announce losses of £334,000 for year ending May 31
- Credit: Archant
Stevenage have suffered more than £300,000 in losses over the last financial year.
The club has released a statement this morning saying that they lost £334,000 for the year ending May 31, 2015, compared to a £219,000 loss the previous year.
Boro have also revealed that they have not interviewed anyone for the manager’s job yet, as they wanted to take a look at caretaker boss Darren Sarll in the role.
In the statement, chairman Phil Wallace said: “The size of the loss last season, despite a huge investment from the stadium sponsor, is unsustainable at a small club like Stevenage and last summer it was clear the club couldn’t survive another season going down the same road as the previous two seasons.
“Teddy Sheringham arrived in a bold move to stimulate interest and allow us to access new players on a lower budget. To a certain extent that worked.
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“We had huge national exposure and Teddy gave everything he could for the club, but you need a lot of luck in your first ever management job and he didn’t get much of that.
“Our league position will always be directly linked to the amount of cash available for players.
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“When nothing out of the ordinary goes wrong, we can challenge at the top end of League Two on our budget, but when we lose half a dozen or so of the highest paid players and we’re forced to replace them after the budget has been spent, then we’re in trouble.”
Talking about Sarll, Wallace went on to say: “With regards to the managerial position we haven’t interviewed anyone for the job yet – we wanted to look at Darren Sarll in the role first.
“He has the DNA of the club, so this was our best option at the time, although we were inundated with applicants.
“We have some tough games in front of us with the first and second placed sides in successive games next up and then eight cup finals.
“But we’ve faced adversity before and shown what we can do. This is an important couple of months in our history – it’s absolutely crucial fans and the club stand shoulder to shoulder.
“We have to try and gain something from a poor season, finish strongly and try to build a foundation for next season.”