Bristol Rovers have reported an operating loss of £1,939,141 for last season and chairman Nick Higgs says the club must cut its costs 'accordingly'.
Amidst the figures are the wage costs for last season which were £3.7M.
"Relegation to League Two impacts on the club with reduced revenues from the Football League, along with the requirements to introduce wage-capping as agreed by all League Two clubs," said Higgs.
"This has resulted in a much-changed squad for the new season as we adjust our cloth accordingly."
Rovers hope to move to a new ground in 2014. The cost is said to be around £40M.
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Next: Macclesfield At Edgar Street On Tuesday November 11th At 7.45pm
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