New chairman David Keyte told last night's fans forum that Hereford United lost money in Graham Turner's last season at the club.
The loss was expected as gates dropped to a six year low.
"The club has declared a profit in the previous five years but will report a small loss last year," said Keyte.
"It is possible in a small club to make a few pounds.
"In Hereford United's case to almost break even on 2100 when from a little bit of research I did before, talking to mates locally, there is quite a ground swell of people who have given up going in the last four or five years - I suspect average could well be 3000. It always used to be.
"2500, 2750 we could spend some money on players but still balance the books."
One of the questions from the floor was about the £1m owed to the Richardsons and about Formsole. Keyte said he had met them last Monday.
"I put it to them that after 15 years the debt was probably zero in their books and that was before reading the Bulls News work (article on Formsole last Tuesday) - which I read avidly every day, I do at the moment perhaps at Christmas we won't do!
"It comes down to how much do you want. They are quite hard-nosed about it.
"They have inherited things on paper that say Hereford United owe them £1m.
"They promised to come back to me by the end of the week in response to my offer which is basically using the same £1 which I used ten years ago (to buy his former school).
Text at top (next game etc)
Next Game: Rushall At Home In The League On Saturday 30th November At 3.00pm