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.
Text at top (next game etc)
Next Game: Farsley Celtic At Edgar Street On Saturday 26th October at 3.00pm