05/04/2017 : Yeovil Town Official Statements : Glovers Chairman Warns On Club Losses
5 April 2017 : Glovers Chairman Warns On Club Losses
Yeovil Town Football Club can confirm its financial results for the 12-month period ending 30th June 2016.

The final accounts show a loss of £450k compared to a loss of £692k the year previous, in what has been a challenging year for everyone involved with the club at Huish Park.

With the company accounts now recorded, chairman John Fry commented:

“As chairman, I have been overwhelmed by the loyal and unwavering support of our directors, staff, and supporters. I would like to place on record my thanks to everyone who has supported the club through what has been a very difficult period.

“I firmly believe the struggle we have experienced since our relegation from the Championship will give us the strength we need to build a stronger and more successful organisation for next season and beyond. I would particularly like to thank our Football Director, Norman Hayward, for his ongoing financial support and commitment to Yeovil Town. We are indeed fortunate to have a supporter director who cares passionately about the future development of the Huish Park stadium and the continued progress of our football club.”

Fry continued: "The size of our operational losses since being relegated from the Sky Bet Championship are unsustainable for a club of Yeovil's size. If allowed to continue, we would in the short-term encounter serious financial difficulties in running the club. I am therefore pleased to report our football club is now moving in the right direction, and through good management, we have substantially reduced our financial losses for the current season.

“The focus now is to make the business more efficient, through reorganisation and further cost reductions off the field. All lower league football clubs need the help of supporters to run their off-field operations on matchdays, and with the help of our recently formed Supporter Alliance Group, we should be able to substantially reduce our operational costs next season.

“As a club, our ambition is to build a sustainable business that will enable our football teams to play at the highest level in the footballing pyramid. To our supporters, this may seem like a distance away, but, with the right investment, we will have the resources, experience and commitment to achieve the longer-term vision for Yeovil Town. However, we all need to be patient, as our football and financial revival will take time. I am therefore asking our fans to stick with us during this difficult time and to keep believing in what we are creating at Huish Park.

“There were many positives to be taken from our first season back in Sky Bet League Two. The decision by the club directors halfway through the season to replace Paul Sturrock with Darren Way, and to bring in a number of experienced players, at a time when we were rock bottom of the division with only 11 points from 20 games, was a massive turning point in our season. Unfortunately, the costs involved with doing this - for players’ wages, and a huge medical bill for treating injured players - were the exceptional items of expenditure shown in the accounts, which contributed substantially to the club's £450k financial losses for the 2015/2016 season.

“No directors received fees, expenses or dividends during the accounts period. I can also report there were no fees paid by YTFC Ltd for the work undertaken to provide better supporter facilities at Huish Park Stadium. All revenues generated were channelled back into our football resources.

“All credit must go to our new football manager, Darren Way, his backroom staff and the group of committed players for changing the work ethic and team performance on the pitch during the second half of last season. In his first managerial position, Darren did a brilliant job steering the club away from the relegation zone, and through good management of the football budgets, not only brought our spending back under control but also on limited funds, started the process of building a squad made up of quality young players that in time will challenge for promotion. As a young manager, and with careful development, Darren has a very bright future in football management. Let's give him that chance.

“Over time, one of our main priorities will be to improve the level of the first-team squad, and in keeping with other EFL clubs, we will continue to look for opportunities to help develop young talent under the loan system and to supplement our income with transfer fees where this represents good business. Our Category 3 Academy and Young Player Development Policy is a major part of our plans for doing this. I am therefore pleased to report our Academy is now well established and producing our own top quality young players. Looking towards the future our aim is to have a number of homegrown players representing Yeovil Town in Sky Bet League One of the EFL.

“Our Player Related Expenditure, remained compliant with the EFL Regulations throughout the 2015/16 season. The fixed costs of the business, which are mainly football related payroll costs and the upkeep of Huish Park, were maintained within the constraints of the turnover figures. Further positive impact on turnover can be achieved through the sale of players to other EFL clubs. However, we have not had the benefit of doing this since our relegation from the Championship.

“In keeping with our stated aim of breaking even over the medium-term, we remain committed to spending the maximum permitted under the EFL Player Related Expenditure rules to provide the best first-team possible. However, as would be expected, our football wages continue to be the highest expense, shown in the accounts.”

In conclusion, the chairman said: “Progress continues to be made on all fronts in a challenging local economy, and with huge efforts being made behind the scenes to ensure the club is always moving forward with our local community. As always, we have continued to enjoy amazing support from our commercial partners and sponsors. I would like to place on record my personal thanks to those organisations and individuals who have invested in the club over the season and have contributed towards the running and development of our resources at Huish Park. We are optimistic about the future.

Thanks again to the supporters for their continued support of Darren and the first-team, in what is an ongoing building progress to get us back up to the high echelons of the EFL.”


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Other Entries In The Yeovil Town Official Statements Section.
Date Title Author Link
15/05/2019 Club Statement On Advancements YTFC Link
04/01/2019 Skiverton named Academy Head of Coaching YTFC Link
02/01/2019 Club statement On December Supporters Alliance Meeting YTFC Link
20/11/2018 Way signs contract extension at Huish Park YTFC Link
16/08/2018 Harrison confirmed as Academy Manager YTFC Link
21/12/2017 Insight 63 Briefing YTFC Link
11/12/2017 Rumoured Takeover YTFC Link
10/05/2017 Club Vote On Future Of EFL Trophy YTFC Link
05/04/2017 Glovers Chairman Warns On Club Losses YTFC Link
17/04/2016 Preview Plans To Develop Huish Park Stadium YTFC Link
14/04/2016 Darren's Winning Way Is Helping To Cut Town's Losses YTFC Link
27/10/2015 Glovers Chairman Replies To The Critics YTFC Link
04/08/2015 Stadium Complex Planning Application YTFC Link
31/03/2015 Next Season's Prices To Be Announced Shortly YTFC Link
31/03/2015 Glovers Profits Up, But There's A Challenge Ahead - Chairman YTFC Link
31/03/2015 Supporters In Face To Face With Club Bosses YTFC Link
18/03/2015 Chairman's Message To Supporters YTFC Link
14/01/2015 Planning Public Consultation Announced YTFC Link
14/10/2014 'Stay Calm' Says Chairman YTFC Link
03/06/2014 Club Withdraw Planning Application YTFC Link
19/04/2014 Gary And John In Rallying Call YTFC Link
17/04/2014 Club Statement (Asda Supermarket Group) YTFC Link
26/03/2014 Development Petition Tops 1100 YTFC Link
25/03/2014 Fry - Please Sign Our Petition YTFC Link
22/03/2014 Show Your Support YTFC Link
17/03/2014 Captains Of Industry Show Their Support YTFC Link
04/03/2014 Fry's Q and A Document YTFC Link
25/02/2014 Work On New 3G Pitch Begins YTFC Link
25/02/2014 Club Deny Mitchell Talks YTFC Link
25/02/2014 Development Details For Councillors YTFC Link
16/02/2014 2014-15 Season Tickets Announced YTFC Link
04/02/2014 Club To Submit Plans YTFC Link
07/08/2013 Restructuring At Huish Park YTFC Link
24/03/2012 Your Club Needs You! YTFC Link
02/03/2012 Huish Park Development Statement YTFC Link
01/12/2011 Development Plans Update - Dec 1st YTFC Link
24/11/2011 Development Plans Update YTFC Link
25/10/2011 Blue Sky Over Huish Park YTFC Link
25/03/2011 Supporter Communication Plans YTFC Link
21/03/2011 YTFC Plan Major New Developments YTFC Link
23/12/2010 Club Announce Small Profit YTFC Link
03/06/2010 Club Announces Restructuring Proposal YTFC Link
12/04/2010 Club Posts Loss YTFC Link
29/10/2009 Hayward Joins The Board YTFC Link
10/05/2009 Club Announce Profit For Year Ended June 2008 YTFC Link
16/10/2008 Fry Issues "Hands Off" Warning YTFC Link
07/06/2008 Starnes Answers Mildenhall Comments YTFC Link
12/12/2007 New Chief Executive At Huish Park YTFC Link
16/02/2007 Official Club Statement - Disabled Supporters Association YTFC Link
30/03/2006 Two New Directors Join The Board YTFC Link
30/03/2006 John Fry Clarifies Press Comments YTFC Link
Other Entries By YTFC.
DateTitleAuthorLink
5/15/2019Supporter Alliance Meeting : Wednesday 15th May 2019YTFCLink
5/15/2019Club Statement On AdvancementsYTFCLink
5/15/2019Supporter Alliance Meeting : Wednesday 10th April 2019YTFCLink
3/18/2019Supporter Alliance Meeting : Wednesday 6th February 2019YTFCLink
3/14/2019Supporter Alliance Meeting : Wednesday 14th March 2019YTFCLink
1/4/2019Skiverton named Academy Head of CoachingYTFCLink
1/2/2019Club statement On December Supporters Alliance MeetingYTFCLink
11/21/2018Supporter Alliance Meeting : Wednesday 21st November 2018YTFCLink
11/20/2018Way signs contract extension at Huish ParkYTFCLink
10/10/2018Supporter Alliance Meeting : Wednesday 10th October 2018YTFCLink
8/16/2018Harrison confirmed as Academy ManagerYTFCLink
5/16/2018Supporter Alliance Meeting : Wednesday 16th May 2018YTFCLink
4/18/2018Supporter Alliance Meeting : Wednesday 18th April 2018YTFCLink
3/21/2018Supporter Alliance Meeting : Wednesday 21st March 2018YTFCLink
12/21/2017Insight 63 BriefingYTFCLink
12/11/2017Rumoured TakeoverYTFCLink
10/12/2017Club engage with Insight 63 LtdYTFCLink
5/10/2017Club Vote On Future Of EFL TrophyYTFCLink
4/5/2017Glovers Chairman Warns On Club LossesYTFCLink
4/17/2016Preview Plans To Develop Huish Park StadiumYTFCLink
4/14/2016Darren's Winning Way Is Helping To Cut Town's LossesYTFCLink
10/27/2015Glovers Chairman Replies To The CriticsYTFCLink
8/4/2015Stadium Complex Planning ApplicationYTFCLink
3/31/2015Next Season's Prices To Be Announced ShortlyYTFCLink
3/31/2015Glovers Profits Up, But There's A Challenge Ahead - ChairmanYTFCLink
3/31/2015Supporters In Face To Face With Club BossesYTFCLink
3/18/2015Chairman's Message To SupportersYTFCLink
1/14/2015Planning Public Consultation AnnouncedYTFCLink
10/14/2014'Stay Calm' Says ChairmanYTFCLink
6/3/2014Club Withdraw Planning ApplicationYTFCLink
4/19/2014Gary And John In Rallying CallYTFCLink
4/17/2014Club Statement (Asda Supermarket Group)YTFCLink
3/26/2014Development Petition Tops 1100YTFCLink
3/25/2014Fry - Please Sign Our PetitionYTFCLink
3/22/2014Show Your SupportYTFCLink
3/17/2014Captains Of Industry Show Their SupportYTFCLink
3/4/2014Fry's Q and A DocumentYTFCLink
2/25/2014Work On New 3G Pitch BeginsYTFCLink
2/25/2014Club Deny Mitchell TalksYTFCLink
2/25/2014Development Details For CouncillorsYTFCLink
2/16/20142014-15 Season Tickets AnnouncedYTFCLink
2/4/2014Club To Submit PlansYTFCLink
8/7/2013Restructuring At Huish ParkYTFCLink
3/24/2012Your Club Needs You!YTFCLink
3/2/2012Huish Park Development StatementYTFCLink
12/1/2011Development Plans Update - Dec 1stYTFCLink
11/24/2011Development Plans UpdateYTFCLink
10/25/2011Blue Sky Over Huish ParkYTFCLink
3/25/2011Supporter Communication PlansYTFCLink
3/21/2011YTFC Plan Major New DevelopmentsYTFCLink
12/23/2010Club Announce Small ProfitYTFCLink
6/3/2010Club Announces Restructuring ProposalYTFCLink
4/22/2010Supporters Ideas Discussed By SLG : Devon Fan's 36 IdeasYTFCLink
4/12/2010Club Posts LossYTFCLink
3/1/2010Supporters Liaison Group Report : Meeting No. 1YTFCLink
10/29/2009Hayward Joins The BoardYTFCLink
8/28/2009New Supporters' Liaison Group LaunchedYTFCLink
5/10/2009Club Announce Profit For Year Ended June 2008YTFCLink
2/26/2009Achieve By Unity Fans Partnership Meeting Minutes No. 8YTFCLink
2/18/2009Achieve By Unity Fans Partnership : Extraordinary MeetingYTFCLink
1/22/2009Achieve By Unity Fans Partnership Meeting Minutes No. 7YTFCLink
10/16/2008Fry Issues "Hands Off" WarningYTFCLink
10/2/2008Achieve By Unity Fans Partnership Meeting Minutes No. 6YTFCLink
8/4/20082008-09 Achieve By Unity Fans Partnership Meeting Supporters Representatives ProfilesYTFCLink
7/9/2008Achieve By Unity Fans Partnership Meeting Minutes No. 5YTFCLink
6/7/2008Starnes Answers Mildenhall CommentsYTFCLink
4/3/2008Achieve By Unity Fans Partnership Meeting Minutes No. 4YTFCLink
1/17/2008Achieve by Unity Fans Partnership Meeting Minutes No. 3YTFCLink
12/12/2007New Chief Executive At Huish ParkYTFCLink
11/22/2007Achieve By Unity Fans Partnership Meeting Minutes No. 2YTFCLink
10/19/2007The Achieve By Unity Fans Partnership MeetingYTFCLink
10/18/2007Achieve By Unity Fans Partnership Meeting Minutes No. 1YTFCLink
2/16/2007Official Club Statement - Disabled Supporters AssociationYTFCLink
2/9/2007February Customer Charter MeetingYTFCLink
3/30/2006Two New Directors Join The BoardYTFCLink
3/30/2006John Fry Clarifies Press CommentsYTFCLink
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