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Losses double at Spireites

Chesterfield's accounts for 2017/18 show that losses doubled from £420k to over £1m or £20,000 a week. They are reliant on director loans to keep afloat. They borrowed £1.2m last year from owner Dave Allen interest free.

Chesterfield now owe £7 million to Dave Allen (interest free) and £3 million to former directors (interest of 5% on some of this). Surviving in the lower leagues is tough.

Chesterfield income was down 10%. The club generated over £1 million from transfer fees which may include sell on fees but spent just £10,000 on new players. The wage bill was down seven per cent as the club was relegated and fewer bonuses were paid. However, over £4.1m was spent on wages and wage related costs which represented 71 per cent of turnover.

£220k was spent on legal and professional costs, of which a large slice was probably agents fees. It is interesting that medical supplies cost £118k.

Critics consider that the club has suffered from poor financial control and negligent management.

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