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Losses have doubled at Chesterfield

Losses have doubled at Chesterfield, now playing in the National League: 2017/18 accounts

CFC 2001 Limited closed the year reporting a loss of £1,061,270 compared to a loss in the previous year of £506,735. Turnover was down by £756,170 on the previous year, cumulating from reduction of gate and season ticket revenue of £134,602, TV and Football Awards monies of £302,899, commercial income was lower by £138,735 and other income down by £334,236.

Chesterfield income was down 16% in 2017/18 in League 2. One can expect another substantial fall in 2018/19 as the club is in the National League instead of League Two.

Chesterfield's borrowings from directors have gone through the £10 million barrier as further loans were taken out to allow the club to pay the bills. Kieran Maguire of the PriceofFootball notes, 'Chesterfield level of debt puts it 47th in the list of English, Welsh and Scottish clubs, just behind Celtic, who did the treble and played in the Champions League last season and ahead of Swansea, who were in the Premier League.

Chesterfield's wage bill was down seven per cent in 2017/18 due to fewer win bonuses and players recruited being on a League Two wage scale.

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